CynthiaLummis

U.S. Senator Cynthia Lummis has reignited the debate over cryptocurrency legislation — this time fiercely criticizing tax rules that she claims unfairly target Bitcoin and the broader digital asset sector. She warns that miners are especially at risk of being crushed by double taxation, which could seriously damage their operations.

⚒️ Bitcoin Miners at Risk: Laws Could Break Them
Lummis argues that the current tax framework is so flawed that it could bury miners in bureaucracy — and tax them both when mining and again when selling their rewards. In reality, that means miners may have to pay taxes even on income they haven’t yet liquidated.
She expressed her concerns in a post on X, where she pointed out that U.S. tax law disproportionately affects Bitcoin and other decentralized technologies. She called for changes during the legislative reconciliation process, warning that the current approach could destabilize the entire crypto market.

🧾 IRS and the 2021 Law: The “Broker” Problem
Although Lummis didn’t name specific laws, her remarks likely referred to the IRS tax rules stemming from the 2021 Bipartisan Infrastructure Law, which significantly broadened the definition of “broker” to include miners and software developers.
This led to an absurd outcome — coders and validators were expected to report information they couldn’t possibly access, like user identities, transaction amounts, or wallet addresses — an impossible ask for decentralized protocols.

⚖️ Reconciliation as the Way Forward? Lummis Presses Congress
The senator is urging Congress to use the budget reconciliation process — a special legislative procedure that allows tax-related changes to pass with a simple majority, bypassing bipartisan negotiations.
Lummis's main goal is to redefine “broker” in a way that excludes miners, developers, and DeFi participants from impossible tax reporting duties that make no legal or technical sense.

📉 Double Taxation and DeFi Confusion: A Threat to Innovation
Lummis warns that the current rules set a dangerous precedent:

🔹 Miners could be taxed on block rewards and again on capital gains when they sell those coins.

🔹 DeFi users risk multiple tax liabilities even when they gain no real profits — for example, in simple swaps or moving tokens between wallets.
She says all this is stifling innovation and creating legal uncertainty that could undermine the U.S.’s global competitiveness in the tech race.

📈 Bitcoin Surges Despite Uncertainty – Breaks $111,970
Despite unclear regulations, crypto markets surged — Bitcoin reached a new all-time high of $111,970, while Ethereum and other altcoins also gained after a weekend of sideways movement. The crypto market is sending a clear message: despite legal chaos, investors still believe in the long-term potential of digital assets.

📜 New Laws on the Horizon: A Turning Point for Crypto?
There’s hope for change with several proposed bills in the pipeline:

🔹 The GENIUS Act, which could soon pass in Congress,

🔹 The CLARITY Act, continuing to make progress through legislation,

🔹 And even a proposal that would codify Trump’s executive order on creating a Bitcoin strategic reserve.
If Lummis succeeds in pushing through her reforms, the resulting tax overhaul could completely rewrite the rules of the crypto game.

#CynthiaLummis , #bitcoin , #crypto , #Regulation , #CryptoNewsCommunity

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

👀 However, the market seems indifferent. It’s still recovering from last week’s hype when Cynthia Lummis teased “big news,” sparking speculation about a Bitcoin reserve—only for it to turn out to be her appointment as Chair of the Senate Digital Assets Committee. 🤷
#CynthiaLummis #BitcoinReserve

Senator #CynthiLummis continues her mission to position the United States as a global leader in the digital asset space. Recently, she met with Paul Atkins, a former SEC Commissioner and a nominee for SEC Chair under the Trump administration, to discuss potential reforms in SEC regulations. The meeting centered on creating a balanced regulatory framework that supports innovation while maintaining oversight.

Lummis, a staunch Bitcoin advocate, highlighted her Bitcoin Strategic Reserve Act, a groundbreaking proposal that aims to have the U.S. Treasury acquire one million Bitcoins over the next five years and hold them for two decades. The plan is rooted in Bitcoin's unique attributes of scarcity and decentralization, which Lummis believes can serve as a hedge against inflation and contribute to addressing the nation’s $36 trillion debt. Inspired by El Salvador’s adoption of Bitcoin, she envisions incorporating Bitcoin into the nation’s fiscal policies to spur economic growth and establish the U.S. as a leader in digital innovation.

Strategic Partnership for Crypto Policies🎉

Lummis' discussion with Atkins builds upon her previous conversations with David Sacks, a prominent cryptocurrency advocate and former PayPal executive. Together, they aim to refine regulatory policies that provide clarity and foster innovation. Atkins, known for his crypto-friendly stance, brings invaluable experience and a vision of balanced oversight to the SEC. This approach contrasts with the previous administration's often criticized enforcement-heavy tactics under Gary Gensler.

During the meeting, Lummis and Atkins addressed the gaps exposed in high-profile cases like the Ripple Labs lawsuit, where the SEC faced criticism for inconsistencies in its regulation of digital assets. The senator emphasized the importance of clear, actionable rules that protect the market while encouraging blockchain innovation. With Atkins and Sacks supporting her agenda, Lummis is poised to drive a comprehensive overhaul of the U.S. crypto policy framework.

Paving the Way for the Future of Digital Assets🔥🔥🔥

Cynthia Lummis’ vision extends beyond regulation. By advocating for Bitcoin's integration into U.S. fiscal policy and championing reforms within the SEC, she seeks to position the nation at the forefront of the global cryptocurrency landscape. Her two-pronged strategy of regulatory clarity and economic innovation promises to unlock new growth opportunities for the blockchain sector while solidifying the U.S.’s leadership in digital assets.

With fresh leadership at the SEC and a collaborative approach to policymaking, Lummis is determined to shape a future where cryptocurrencies play a central role in the American economy. Her efforts signal a new era for blockchain and digital assets, where innovation and regulation coexist to drive progress.

#BitcoinIntegration #CryptoRegulations #BlockchainInnovation #USCryptoLeadership #CynthiaLummis

The three-day Bitcoin 2025 conference in Las Vegas has wrapped up — leaving behind a wave of inspiration, powerful speeches, and renewed vision for the crypto space. The event gathered tech visionaries, political figures, and hardcore Bitcoiners. If you missed it, here’s everything you need to know.

Over 400 Speakers Took the Stage – From Saylor to Trump
More than 400 leaders and speakers delivered their insights on Bitcoin’s growth, market developments, regulation, and adoption. Notable names included:
🔹 Michael Saylor (MicroStrategy)

🔹 JD Vance (Vice President of the U.S.)

🔹 Ross Ulbricht

🔹 Jack Mallers (Strike)

🔹 Eric & Donald Trump Jr.

🔹 Senator Cynthia Lummis

🔹 SEC Commissioner Hester Peirce

JD Vance: “Bitcoin Is a Symbol of Freedom”
U.S. Vice President JD Vance delivered a powerful address, calling Bitcoin a defense mechanism against government surveillance and poor fiscal policy.
He praised President Trump’s crypto initiatives and emphasized that America should lead the digital finance revolution. Vance added that stablecoins aren’t a threat but rather a multiplier of economic strength.

Michael Saylor: 21 Paths to Wealth
Michael Saylor shared his philosophy of wealth and called Bitcoin the foundation of prosperity, not just an investment. He unveiled plans from MicroStrategy to launch Bitcoin-backed stock offerings and distanced the firm from becoming a traditional bank.

Ross Ulbricht: Freedom, Decentralization, Unity
In his first public appearance since receiving a pardon from President Trump, Silk Road founder Ross Ulbricht delivered an emotional speech about his prison experience and the core values of Bitcoin.
“Gaining freedom is as powerful as losing it. I’m free — and it’s thanks to you. Thank you, thank you, thank you.”

Jack Mallers: Fiat Is the Problem, Bitcoin Is the Solution
Strike founder Jack Mallers criticized fiat currencies and introduced a new Bitcoin-backed lending system offering loans from $10,000 to $1 billion with 9–13% interest rates.
He emphasized that Bitcoin was invented to protect time, energy, assets, and sovereignty — values that fiat systems erode.

Trump Family: The U.S. Will Lead the Crypto Revolution
Eric and Donald Trump Jr. expressed strong support for crypto and confirmed the administration’s commitment to making the U.S. a leader in digital assets. They criticized the inefficiencies of traditional finance and highlighted the power of decentralization.
Eric Trump credited Michael Saylor for inspiring him to mortgage Mar-a-Lago to buy BTC.

Cynthia Lummis & Hester Peirce: Clear Rules, Fair Treatment
Senator Cynthia Lummis received widespread praise for championing the Genius Act and proposing the creation of a U.S. strategic Bitcoin reserve. Her message: “Bitcoin is a growing asset while Congress devalues the dollar.”
SEC Commissioner Hester Peirce also spoke about regulatory progress and stressed the need for clear and fair rules that treat crypto businesses equally — not exceptionally.

Conclusion:
Bitcoin 2025 made it clear: Bitcoin is no longer niche — it’s at the heart of a global conversation about freedom, innovation, and the future of money. With support from leaders in politics, tech, and finance, Bitcoin continues to evolve as a tool for growth, protection, and change.

#BTC , #bitcoin , #MichaelSaylor , #CynthiaLummis , #CryptoNewss

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“