Senator Lummis Proposes Cryptocurrency Tax Bill

Senator Cynthia Lummis has introduced a new bill on the taxation of digital assets, which includes a number of key initiatives:

🔹 Exemption of up to $300 from taxation on each small crypto transaction (de minimis rule)

🔹 Elimination of double taxation on mining and staking

🔹 Alignment of digital asset regulation with traditional financial instruments

📜 The bill aims to simplify the lives of users and participants in Web3, encouraging innovation and institutional adoption.

🤝 A new step towards formalizing the crypto market within the legal framework of the U.S.