According to CoinWorld news, on July 12 (UTC+8), U.S. Senator Cynthia Lummis stated in an interview that she has introduced a new cryptocurrency tax proposal that will end the unfair double taxation of digital assets and create a fairer competitive environment for the industry. According to her, the bill will eliminate the current system of double taxation on digital assets when they are recognized and resold, aligning them with assets like gold and livestock, which are taxed only upon sale. At the same time, the proposal will establish a tax-free threshold of about $5,000 per year (de minimis), allowing users to enjoy a small tax exemption when using cryptocurrencies like Bitcoin as a means of payment.