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"One Big Beautiful Bill" & Crypto Impact!
Donald Trump's "One Big Beautiful Bill" has just passed the Senate, but crucial crypto tax amendments didn't make the cut. This sweeping bill, aiming for tax cuts and spending changes, has been met with fierce criticism from Elon Musk, who called it "insane and destructive" and even threatened to fund primary challengers against supporting Republicans.
While the bill's broader economic impacts are being debated, the exclusion of crypto-friendly tax provisions (like de minimis exemptions for small transactions or clear rules for staking rewards) means no immediate direct benefit for crypto users from this legislation.
This highlights the ongoing political tug-of-war for crypto regulation in the US. Keep an eye on future legislative efforts and the continued influence of figures like Trump (who's still pro-crypto) and Musk, as their actions and comments can still move markets.