COINPURO - Crypto Currency Latest News logo COINPURO - Crypto Currency Latest News logo
BitcoinSistemi 2025-07-04 06:28:06

Following the Major Tax Law in the US, a Major Cryptocurrency Tax Bill Has Now Been Proposed

Describing current practices for taxing digital assets as “outdated,” Wyoming Senator Cynthia Lummis today introduced a new bill that aims to modernize cryptocurrency taxation. With this move, Lummis has brought the crypto-friendly regulations he has been advocating for a long time back to the Congressional agenda. The Republican senator’s new bill is almost identical to provisions President Donald Trump tried to include in his “One Big Beautiful Bill Act” reconciliation package earlier in the week, but those provisions were not included in the package and were not put to a vote during the vote. Related News: Pantera Capital and Unexpected Altcoin Announce New Joint Investment of $250 Million “We cannot allow outdated tax policies to stifle American innovation,” Lummis said in a statement. “This bill ensures that our citizens can participate in the digital economy without accidentally committing tax violations.” He also invited public comments on the bill, saying he aims to “get it to the President’s desk.” The highlights of the new bill include ending double taxation of mining and staking activities and exempting digital asset transactions of up to $300 from tax. This threshold aims to eliminate the need for users to keep tax records at every step for small transactions, such as buying coffee with Bitcoin. *This is not investment advice. Continue Reading: Following the Major Tax Law in the US, a Major Cryptocurrency Tax Bill Has Now Been Proposed

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.