Michael Saylor and Senator Lummis Send a Hard-Nosed Response on 'Double Taxation'

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Crypto Tax Reform Urged As US Risks Falling Behind Global Rivals » News.ng

U.S. Senator Cynthia Lummis has renewed calls for tax reform in the cryptocurrency sector, urging lawmakers to eliminate what she calls an unfair double taxation policy imposed on crypto miners and stakers. Currently, individuals who secure blockchain networks by mining or staking digital assets face two layers of taxation: they are taxed first when they receive crypto rewards—treated as income—and again when they sell those assets, incurring ca…

Michael Saylor and Senator Lummis send a hard-nosed response on 'double taxation'

Michael Saylor Advocates for Ending Unfair Taxes on Bitcoin Miners to Strengthen U.S. Position in Global Crypto Market

Michael Saylor, the executive chairman of MicroStrategy, has recently voiced his concerns over the tax policies affecting Bitcoin miners in the U.S. In a tweet, he emphasized the need to remove what he described as “unfair taxes” on miners in order to secure America’s dominance in the global cryptocurrency market. This call comes amidst growing concerns from industry leaders about how the regulatory environment could hinder future innovation and…

U.S. Debates Ending Double Taxation on Bitcoin Miners

The post U.S. Debates Ending Double Taxation on Bitcoin Miners appeared on BitcoinEthereumNews.com. Key Points: Michael Saylor and Senator Lummis advocate reform for Bitcoin miner taxes. Ending double taxation may enhance U.S. crypto market position. Tax reform could influence Bitcoin value and mining practices globally. The U.S. is contemplating ending the double taxation on Bitcoin miners, with significant advocacy from key figures to promote …

Senator Lummis Pushes for Crypto Tax Fix in Sweeping Legislation

In a post on social platform X, Lummis said she is working to “stop unfair tax treatment” of digital asset holders by eliminating double taxation on block rewards. Under current law, crypto earned through staking or mining is taxed first upon receipt and again when sold — a system Lummis says stifles innovation. The move echoes earlier bipartisan calls to exempt small crypto transactions from capital gains tax, a proposal that would eliminate th…