US EditionIn the Spotlight: Tim Scott
U.S. CONGRESS, JUN 30 – Senator Lummis aims to exempt small crypto transactions under $300 and end double taxation on staking and mining rewards to simplify tax compliance, backed by major crypto advocacy groups.
- On June 30, 2025, Senator Cynthia Lummis announced she would introduce a crypto tax amendment to the Senate's One Big Beautiful Bill .
- The amendment aims to stop double taxation by charging taxes on staking and mining rewards only when these assets are sold, not when they are created.
- Lummis's proposal aims to exclude small crypto transactions from tax reporting, applying to individual payments below $300 and limiting the total exempt amount to $5,000 per year to ease the tax burden on minor digital asset activities.
- The Digital Chamber called the tax fix "a long overdue mistake" repair, while advocates believe the change would reduce compliance burdens and encourage crypto adoption.
- If enacted, this amendment could align tax policy with actual economic benefits, discourage regulatory hesitancy, and foster innovation in digital assets in the U.S.
18 Articles
18 Articles
In the Spotlight: Tim Scott
Senate Banking Chairman Tim Scott , R-S.C., is leading the charge to move forward on legislation that would establish regulations for the sale and transfer of digital assets known as stablecoins, saying he believed President Donald Trump gave Congress a “mandate” to send it to the president’s desk quickly. But House Financial Services Chairman French Hill, R-Ark., has indicated he wants to reconcile the Senate-passed bill with stablecoin legisla…
Senator Lummis Pushes Making Small Crypto Transactions Tax-Free in ‘Big Beautiful Bill’
Senator Cynthia Lummis is leading a push to make small crypto transactions tax-free in the Senate’s “One Big Beautiful Bill” (OBBB), with a proposed amendment that would introduce a de minimis capital gains exemption for minor crypto payments. The amendment would set a threshold – currently proposed at $300 per transaction – below which crypto payments would not trigger capital gains tax reporting. It also calls for a proposed annual cap of $5,0…
CoinStats - Cryptocurrency Tax Relief: US Senate Budget B...
BitcoinWorld Cryptocurrency Tax Relief: US Senate Budget Bill Skips Crypto Provisions Are you a cryptocurrency enthusiast keeping a close eye on legislative developments in the United States? If so, you’re likely to find the latest news from the US Senate a significant moment. In a move that has many in the digital asset community breathing a collective sigh of relief, President Donald Trump’s budget bill has advanced without the inclusion of an…
US Senator’s New Proposal Could Slash Taxes on Small Transactions - Crypto Economy
TL;DR Tax Exempts for crypto payments under $300 (up to $5,000 annually) from capital gains reporting, cutting red tape on everyday digital‐asset spending. Delay taxation on mining block rewards and staking yields until conversion to fiat or other assets, ending the “double taxation” on unrealized crypto income. Harmonizes airdrop/fork treatment, applies wash‐sale rules to tokens, and clarifies lending interest and charitable donations, heading…
Trump’s “One Big Beautiful Bill” Sparks Clash Over Crypto, Rates, and Subsidies
Trump’s budget bill includes crypto tax reforms, interest rate demands, and subsidy threats. Senator Lummis proposes tax-free crypto transactions under $300 and fairer rules for miners. Trump pressures the Fed for 1% interest rates while attacking Musk over government subsidies. President Donald Trump’s push for his “One Big Beautiful Bill” has sparked intense political and economic debate in Washington. The sweeping budget proposal ties togethe…
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