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A powerful new crypto tax bill just landed in the U.S. Senate, and it could make a big difference for anyone using or holding digital assets like Bitcoin. Senator Cynthia Lummis is leading the charge to fix what she calls “unfair” and “outdated” tax rules that are hurting innovation and everyday users.
So, what’s inside this bill?
No More Taxes on Small Crypto Payments
One of the biggest highlights of Senator Lummis’s bill is a special $300 rule. Under this, small crypto transactions like buying lunch or coffee won’t trigger tax reports. That means people can use digital assets like real money without worrying about tax trouble.
There’s a limit, though: the total tax-free gains per year must stay under $5,000. Starting in 2026, the $300 amount will also adjust for inflation. This rule could finally make crypto spending as easy as using a debit card.
Fairer Rules for Miners and Stakers
The bill also wants to help crypto miners and stakers, people who help run blockchains and earn tokens in return. Right now, miners and stakers often have to pay taxes the moment they receive tokens, even if they don’t sell them.
Meanwhile, with this new bill, taxes will only be due when the coins are sold or used. This helps avoid double taxes and makes it easier for people and companies to plan without worrying about sudden tax bills.
Making Crypto Lending and Giving Easier
The bill also supports crypto lending. It extends the same tax rules used for stock lending to digital assets. So, lending your crypto temporarily won’t count as a sale and won’t trigger taxes.
And if someone wants to donate crypto to charity, the process becomes easier, too. They won’t need a costly appraisal for commonly traded assets, which could encourage more people to give.
Boosting Innovation, Not Burdening It
Lummis says this plan could bring in about $600 million in tax revenue over the next ten years. But more importantly, she argues it will protect innovation in America.
She wants people and businesses to build the future here, not overseas, because the tax code makes it easy to participate safely.
Even though she couldn’t attach the bill to Trump’s “One Big Beautiful Bill,” Lummis believes this crypto proposal can still pass. With public comments now open, Senator Lummis is inviting everyone to have their say.