The new cryptocurrency tax bill in the United States aims to eliminate taxes on small transactions and create fairer regulations for miners and cryptocurrency lenders.
The bill proposed by Senator Cynthia Lummis helps reduce the tax burden for users while promoting innovation and supporting cryptocurrency mining, staking, lending, and donations. The law will take effect from 2026 with many significant improvements.
MAIN CONTENT
Eliminates tax on small cryptocurrency transactions under $300/day and total profits under $5,000/year.
Tax only when selling or using Tokens, allowing miners and stakers to avoid double taxation.
Supports cryptocurrency lending and donations by removing complex valuation requirements.
Does the bill have any stipulations regarding taxes on small cryptocurrency transactions?
Senator Cynthia Lummis has proposed tax-exempt regulations for small cryptocurrency transactions under $300 to simplify the use of cryptocurrency in everyday spending. Total profits should not exceed $5,000 per year.
This means users can pay with cryptocurrency as if using cash without worrying about tax reporting for frequent small transactions like buying coffee or lunch. The $300 amount will be adjusted according to the inflation rate starting in 2026, keeping the policy aligned with economic realities.
"The tax code should not penalize Americans for using new technology. My bill aims to fix outdated regulations related to Bitcoin and digital assets."
Senator Cynthia Lummis, July 3, 2025
Does the bill change anything for cryptocurrency miners and stakers?
The bill defines that tax is only applied when miners or stakers sell or use the earned Tokens, not taxing them immediately upon receiving the Tokens. This helps avoid double taxation and creates a more transparent legal environment.
Currently, many miners and stakers must pay taxes immediately upon receiving Tokens even if they haven't sold them, causing unnecessary financial pressure. With the new regulations, individuals and businesses can easily calculate costs and profits, thereby promoting blockchain network development and DeFi activities.
How does the bill support cryptocurrency lending and donations?
The bill applies similar tax regulations as stock lending for cryptocurrency lending activities, ensuring that temporary lending is not treated as a sale – meaning no immediate tax arises.
In addition, the cryptocurrency donation process becomes more convenient, eliminating costly valuation requirements for popular market assets. This encourages more people to participate in cryptocurrency donations to charities.
What impact does this bill have on innovation and budget revenue?
Senator Lummis estimates that the bill will generate about $600 million in taxes over the next 10 years, while creating a favorable environment for cryptocurrency technology to develop in the United States rather than moving operations overseas due to inappropriate tax costs.
She emphasizes the importance of protecting innovation in the blockchain space, enabling businesses and developers to build the future of cryptocurrency right here in the United States.
"Our goal is to ensure that the United States becomes the leading development platform for cryptocurrency innovation by building smart tax policies that balance budget revenue and encourage creativity."
Senator Cynthia Lummis, speaking in 2025
Frequently Asked Questions
1. Who will benefit the most from this cryptocurrency tax bill?
Users who regularly pay with cryptocurrency and miners, stakers will have a reduced tax burden, making financial planning and asset management easier.
2. When does the bill take effect?
The bill is expected to apply starting in 2026, with some provisions adjusting for inflation.
3. Will the bill increase budget revenue?
Although it reduces taxes for small transactions, the bill still expects to generate approximately $600 million in revenue over 10 years due to other structural tax reforms.
4. How does the bill support cryptocurrency lending activities?
It applies the same tax principles as stock lending, not taxing when temporarily lending cryptocurrency.
5. How will the cryptocurrency donation process change?
Donors do not need complex valuations for popular Tokens, making the process easier and encouraging funding.
Source: https://tintucbitcoin.com/bitcoin-va-miner-doi-mat-du-luat-thue/
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