🚨 U.S. Crypto Tax Reform Bill: $300 Tax-Free Trades & Delayed Mining Taxes! 🇺🇸
Big news for crypto users in the U.S.! Senator Cynthia Lummis has unveiled a major tax reform bill aiming to simplify crypto taxation. Here are the highlights:
🔹 $300 Small Transaction Exemption
No capital gains tax on crypto payments under $300 (up to $5,000/year). This makes crypto payments for daily purchases much easier!
🔹 Mining/ Staking: No More Double Taxation
Pay taxes only when you sell your mined or staked crypto — not when you receive it.
🔹 Clear Rules for Lending & Donations
Borrowing stablecoins with crypto collateral won’t trigger taxes. Donating crypto gets you tax deductions too.
📊 What This Means for Crypto:
✔️ Retail crypto use could surge.
✔️ Mining & staking businesses get major tax relief.
✔️ Clearer compliance = faster growth for DeFi & exchanges.
⚠️ Next Up:
The bill is still awaiting Senate approval (target 2026 start). Stay tuned — this could be a game-changer for crypto adoption in the U.S.
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