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Cryptocurrency Tax Reform Proposal, Senator Lummis Proposes Amendments for a 'Significantly Beautiful Bill'

2025/07/01 09:08
CoinPost
Written by L.Kikutani
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Cryptocurrency Tax Reform Proposal, Senator Lummis Proposes Amendments for a 'Significantly Beautiful Bill'

Focus on the Cryptocurrency Tax Proposal

Pro-cryptocurrency Republican Senator Cynthia Lummis is pushing for the addition of a cryptocurrency tax reform amendment to the 'Significantly Beautiful Bill', a budget reconciliation act initiated under the Trump administration. This bill is currently a massive legislative measure exceeding 1,000 pages and is under review in the Senate. The amendment proposes an exemption for small-scale cryptocurrency transactions under $300. Currently, even small Bitcoin (BTC) payments require capital gains calculations for all transactions, posing a barrier to the broader use of cryptocurrency for payments. Related: Elon criticizes the 'Significantly Beautiful Bill', reacts to Bitcoin-related posts. Senator Lummis is...

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MAGAZINE
Iolite Vol.14

Iolite Vol.14

July 2025 issueReleased on 2025/05/30

Interview Iolite FACE vol.14 Charles Hoskinson, founder and CEO of Cardano/Input Output Global PHOTO & INTERVIEW Mariko Mabuchi Special feature: "Considerations on cryptocurrency-related policies in Japan and the US", "Blockchain guide from Japan", "Huge position liquidation occurs at Hyperliquid! A new, unanticipated crisis in decentralized finance", "Sakana AI, a generative AI startup from Japan that is attracting a lot of attention", "Prepare for a recession: correlation between finance and anomalies" Crypto Journey: "Web 3.0 from the perspective of the 'King of Debate'" Interview with Hiroyuki Special series: Virtual Nishi: "Cryptocurrency market trends and key points for interpreting them" Series: Tech and Future Toshinao Sasaki, etc.

MAGAZINE

Iolite Vol.14

July 2025 issueReleased on 2025/05/30
Interview Iolite FACE vol.14 Charles Hoskinson, founder and CEO of Cardano/Input Output Global PHOTO & INTERVIEW Mariko Mabuchi Special feature: "Considerations on cryptocurrency-related policies in Japan and the US", "Blockchain guide from Japan", "Huge position liquidation occurs at Hyperliquid! A new, unanticipated crisis in decentralized finance", "Sakana AI, a generative AI startup from Japan that is attracting a lot of attention", "Prepare for a recession: correlation between finance and anomalies" Crypto Journey: "Web 3.0 from the perspective of the 'King of Debate'" Interview with Hiroyuki Special series: Virtual Nishi: "Cryptocurrency market trends and key points for interpreting them" Series: Tech and Future Toshinao Sasaki, etc.