US EditionCrypto Tax Proposal That Didn't Make It to Trump's Budget Bill Pushed on Its Own
UNITED STATES, JUL 3 – Cryptocurrency now accounts for nearly 10% of the Trump family's $6.4 billion net worth, driven by token sales, memecoins, NFTs, and mining operations, Bloomberg reports.
- Senator Cynthia Lummis introduced a digital asset tax legislation in 2025 aimed at easing regulations on cryptocurrencies in the U.S. government.
- The legislation emerged from a growing crypto sector tied to the Trump family, which expanded ventures including a memecoin and American Bitcoin valued at over $3 billion.
- The bill proposes removing taxes on crypto transactions under $300, ending double taxation for miners and stakers, and establishing tax parity with traditional assets.
- Bloomberg estimates the Trump family's crypto stake is worth about $2 billion, while Forbes projects Trump’s crypto gains could reach $1 billion, highlighting significant wealth from these assets.
- If passed, the legislation could facilitate digital economy participation under a crypto-friendly administration, though political challenges persist for Republicans amid potential special election losses.
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48 Articles
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From shaky to robust, 6 months of Donald Trump’s second presidency revive his business fortunes
President Donald Trump has profited from the presidency like no one else in American history as the difference between the personal and the professional has ceased to exist. Nearly two-thirds of his $11 billion net worth has come from cryptocurrency ventures in past six months alone.
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