U.S. Senator Cynthia Lummis has introduced a standalone bill proposing major crypto tax reforms. The bill includes a de minimis exemption for digital asset transactions and capital gains under $300, with a $5,000 annual cap. It also exempts crypto lending and charitable donations in digital assets from taxation, and delays taxes on mining and staking rewards until assets are sold. This is Lummis’ strongest push yet to support the crypto sector after digital asset measures were excluded from the spending bill. The bill addresses growing frustration over unclear crypto tax policy, especially regarding DeFi.

Source: https://www.lummis.senate.gov/wp-content/uploads/Lummis-Crypto-Tax-Bill.pdf

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