📝 Senate Approves Trump’s “Big Beautiful Bill” — Crypto Breaks Left Behind
🇺🇸 What’s happened:
The U.S. Senate narrowly passed President Trump’s signature tax-and-spending package—the “One Big Beautiful Bill Act”—in a 51–50 vote (VP Vance cast the tie-breaker)  .
🔍 However, crypto-friendly provisions were omitted due to time constraints—Sen. Cynthia Lummis’ proposals to exempt small crypto transactions (<$300) and to tax staking/mining only upon sale didn’t make the final cut .
🛠️ Lummis had proposed:
• Tax-free treatment for micro transactions up to $300 annually (capped at $5,000/year).
• Ending double taxation on staking & mining rewards—taxed only when assets are sold .
🔜 Next step:
The bill now heads to the House, where crypto lobbyists have one final opportunity to push for these amendments—Sen. Lummis plans to continue her efforts .
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💡 Why it matters for crypto:
• Without relief, crypto investors and miners still face double taxation and burdensome reporting on small trades.
• The bill’s final shape could tip the scales for retail adoption and mining profitability in the U.S.
• A version of the amendment might resurface during House debates—or as a separate bipartisan bill.
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📊 Market/Industry reaction:
• Crypto advocates viewed the omission as a missed opportunity, not a defeat—expect continued push in the House .
• Lummis remains optimistic, citing ongoing discussions with Senate Finance leadership .
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🔐 What to watch next:
• Will House debates reintroduce micro-transaction or staking relief?
• Will a standalone crypto tax bill (e.g., proposed by Lummis) gain traction?
• Can crypto lobbyists rally enough support to reverse the Senate’s omission?
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💬 Your take:
🔘 Should small crypto trades be tax-exempt?
🔘 Would taxing staking & mining only on sale promote fairer treatment?
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