Lummis Files New Bill to Slash Crypto Taxes, Boost Adoption

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Senator Cynthia Lummis is taking another swing at crypto tax reform, introducing a standalone bill to ease burdens on everyday users and miners.

Key provisions include:

• No taxes on small crypto transactions (under $300, max $5,000/year)
• Tax-free crypto lending & charitable donations
• Deferred taxes on staking/mining rewards (until sale)

“We can’t let outdated tax rules strangle innovation,” Lummis said, framing the bill as a fix for “bureaucratic red tape.”

After crypto amendments were left out of the budget bill, this is her best shot at delivering pro-crypto policies.