According to PANews, U.S. Senator Cynthia Lummis has proposed a comprehensive digital asset tax bill aimed at securing multiple key outcomes for the crypto industry and committed to creating a fair competitive environment for digital asset users across the country.

According to estimates from the Congressional Joint Committee on Taxation, the bill is expected to generate a net revenue of approximately $600 million during the fiscal years 2025 to 2034. The bill proposes reforms on several digital asset tax issues, including tax exemptions for small transactions, establishing a $300 minimum threshold rule; eliminating double taxation for miners and stakers; ensuring tax equality between digital assets and traditional financial assets (such as lending, wash sales, and tax based on market value, etc.); and allowing charitable donations without valuation reports.