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US Senator Proposes Tax Exemption for Small Cryptocurrency Transactions in Big Beautiful Bill
Summary: According to reports, US Senator Cynthia Lummis is seeking to include a key cryptocurrency tax amendment in the 'Big Beautiful Bill,' which would exempt small cryptocurrency transactions under $300 per transaction and $5000 annually from taxes. The proposal also suggests that staking, mining, airdrops, and forked assets only be taxed upon sale to alleviate 'double ...
According to reports, US Senator Cynthia Lummis is seeking to include a key cryptocurrency tax amendment in the 'Big Beautiful Bill,' which would exempt small cryptocurrency transactions under $300 per transaction and $5000 annually from taxes. The proposal also suggests that staking, mining, airdrops, and forked assets only be taxed upon sale to alleviate 'double taxation' issues. The amendment also covers tax reforms related to crypto lending, wash sales, and cryptocurrency asset donations. (CoinDesk)
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Link: US Senator Proposes Tax Exemption for Small Cryptocurrency Transactions in Big Beautiful Bill [Copy]
