Senate Republicans introduce crypto tax bill targeting digital assets
- —Bill introduced after a broader market-structure bill failed a procedural vote
- —Focus includes de minimis exemption, staking and mining income, and wash sales
- —Cynthia Lummis and Steve Daines were involved in shaping the proposal
- —Senate Finance Chair Mike Crapo aims to finalize crypto tax legislation by year-end
Why it matters: Tax rules will shape costs for US traders and miners; passing the bill this year could reduce regulatory uncertainty.
Source: Crypto Briefing