Wyoming Senator Cynthia Lummis has introduced a standalone crypto tax bill after digital asset provisions were omitted from the federal budget.
Key reforms:
- $300 de minimis exemption (capped at $5k/year)
- Tax exemptions for crypto lending & charity use
- Deferred taxation on staking/mining rewards
“This ensures Americans can engage with digital assets without unintended tax penalties,” Lummis stated.
The bill now faces an uphill battle in Congress.
