US Senators propose tax exemption for small crypto transactions in Big, American bill

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ODAILY
07-01
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Planet Daily News: U.S. Senator Cynthia Lummis is attempting to include a key cryptocurrency tax amendment in the "Big Beautiful Bill", proposing to exempt small cryptocurrency transactions of no more than $300 and an annual total of no more than $5,000 from taxation. She also suggests that assets from staking, mining, airdrops, and forks should only be taxed when sold, to alleviate the "double taxation" issue. The amendment also involves tax reforms related to crypto lending, wash sales, and cryptocurrency asset donations. (CoinDesk)

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