American senator Cynthia Lummis submitted a bill on Thursday, describing several provisions to revise the tax code and exempt certain transactions of digital assets from taxation after the cryptographic modifications did not appear in the budget package.
The bill offers a minimis exemption for digital asset transactions and capital gains of $ 300 or less, with an annual exemption ceiling of $ 5,000.
The Wyoming senator has also described the provisions to exempt the cryptography loan agreements and the digital assets used in charity of taxation. In addition, the bill proposed postponing taxes to the mining and markup rewards until the underlying assets were sold. Lummis said:
“This revolutionary legislation is fully paid, crosses bureaucratic administrative formalities and establishes common sense rules that reflect the functioning of digital technologies in the real world. We cannot allow our archaic tax policies to stifle American innovation.
My legislation guarantees that Americans can participate in the digital economy without inadvertent tax violations, “she continued.
The autonomous bill is now the best chances of the Wyoming senator to adopt Pro-Crypto legislation promised to the cryptographic community after the senators adopted the expenditure bill without attacking digital assets.
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Double taxation, unclear policies frustrate cryptographic investors
The imposition of digital assets has become a problem with the chud button in the cryptographic industry, with managers, investors, merchants and users frustrated by the lack of clarity and tax efficiency in the United States.
A major discord is the tax treatment of completely decentralized financial protocols (DEFI) and non -guardian platforms where developers have no control over funds or consensus rules.
https://www.youtube.com/watch?v=mrlojzed1_Y
In June, the American legislators of the Chamber’s Financial Services Committee introduced an amendment to the law on the clarity of the digital asset market of 2025, the bill on the structure of the crypto market, exempting the developers of decentralized protocols to be classified as services of money transmission.
This would also be exempt from these protocols DEFI from the same tax declaration requirements as centralized exchanges and other cryptographic companies using a traditional commercial structure.
American legislators rush to include crypto provisions in the final version of the expenditure bill before he reaches the office of US President Donald Trump.
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