A new crypto tax bill that has just landed in the American Senate, and this could make a big difference for all those who use or hold digital assets like Bitcoin. Senator Cynthia Lummis leads to the accusation to repair what she calls “unjust” and “obsolete” tax rules which harm innovation and everyday users.
So what’s in this bill?
More taxes on small cryptography payments
One of the greatest protruding facts of Senator Lummis bill is a special rule of $ 300. Under this, small cryptographic transactions such as buying lunch or coffee will not trigger tax reports. This means that people can use digital assets like real money without worrying about tax problems.
However, there is a limit: the total of the tax gains per year must remain less than $ 5,000. From 2026, the amount of $ 300 will also adapt to inflation. This rule could finally make cryptographic expenses as simple as the use of a debit card.
More equitable rules for minors and stakers
The bill also wants to help crypto minors and stakers, people who help manage blockchains and win tokens in return. Currently, minors and stakers often have to pay taxes when they receive tokens, even if they do not sell them.
Meanwhile, with this new bill, taxes will only be due when the documents are sold or used. This avoids double taxes and facilitates the planning of people and businesses without worrying about sudden tax bills.
Make cryptographic loans and give easier
The bill also supports cryptographic loans. It extends the same tax rules used for action loans to digital assets. Thus, lending your crypto temporarily will not count as a sale and will not trigger taxes.
And if someone wants to donate crypto to charity, the process also becomes easier. They will not need an expensive assessment for commonly negotiated assets, which could encourage more people to give.
Stimulate innovation, do not charge it
Lummis says that this plan could bring about $ 600 million in tax revenue over the next ten years. But more importantly, it maintains that it will protect innovation in America.
She wants people and businesses to build the future here, not abroad, because the tax code facilitates participation in complete safety.
Even if she could not attach the bill to “One Big Beautiful Bill” by Trump, Lummis thinks that this crypto proposal can still adopt. With the comments of the public now open, Senator Lummis invites everyone to have his say.
