According to @KobeissiLetter, U.S. Senator Cynthia Lummis is pushing a significant crypto tax amendment within a major budget bill that could dramatically impact traders and stakers. The proposal aims to waive taxes on crypto transactions under $300 and, crucially, change the tax treatment for staking and mining rewards, so they are only taxed upon sale rather than acquisition. This change, supported by industry groups like the Digital Chamber, would align the tax policy with actual income realization and could lower the barrier to entry for new users. The amendment also seeks to close the wash-trading loophole for crypto assets. Concurrently, progress on a U.S. stablecoin bill faces potential delays. While President Trump has urged the House to quickly pass the Senate-approved GENIUS Act without changes, Representative French Hill indicated that key differences with the House's STABLE Act still require negotiation. Amid these legislative developments, the crypto market shows a slight downturn, with Ethereum (ETH) trading around $2,442, Solana (SOL) near $148, and Cardano (ADA) at approximately $0.55, all reflecting minor 24-hour losses.

According to @KobeissiLetter, U.S. Senator Cynthia Lummis is pushing a significant cryptocurrency tax amendment that could dramatically alter how digital assets are treated for tax purposes. The proposed measure seeks to waive taxes on small crypto transactions below $300 and, crucially, would change the tax liability for staking, mining, airdrop, and fork rewards to be levied only upon sale, not acquisition, as cited in the report. This addresses a major point of friction for the industry, which argues the current system amounts to double taxation. The amendment also aims to close the wash-trading loophole. Concurrently, President Donald Trump is urging the House to quickly pass the Senate's stablecoin bill (GENIUS Act) without changes. However, Representative French Hill has indicated that key differences between the House and Senate versions on issues like extraterritoriality and agency oversight still require discussion. This legislative push comes as major cryptocurrencies show negative 24-hour performance amidst regulatory uncertainty; Ethereum (ETH) is trading around $2,442.57, Cardano (ADA) at $0.5503, and Solana (SOL) at $147.64, according to provided market data.

According to @FoxNews, U.S. Senator Cynthia Lummis is advancing significant legislative proposals with major implications for the cryptocurrency and AI sectors. For crypto traders, a proposed amendment seeks to waive capital gains taxes on transactions under $300 and, critically, change the tax treatment for staking and mining rewards. This proposal would tax assets from staking, mining, airdrops, and forks only upon their sale, not upon acquisition, which could significantly alter the profitability calculations for validators and miners. The amendment also aims to close the wash-trading loophole for crypto assets. Simultaneously, Lummis introduced the RISE Act of 2025 to regulate AI, requiring developers to disclose technical details and limitations via 'model cards' to ensure professional accountability, though it stops short of mandating open-source models. These developments occur as the crypto market shows a slight downturn, with Solana (SOL) trading at $148.13, down 1.67%, Ethereum (ETH) at $2442.78, down 0.85%, and Cardano (ADA) at $0.5531, down 1.74% over the last 24 hours.

According to @FoxNews, U.S. Senator Cynthia Lummis is pushing for a significant cryptocurrency tax amendment in a major budget bill that could dramatically alter the landscape for traders and investors. The proposal aims to tax staking and mining rewards only when the assets are sold, not upon acquisition, which could significantly increase the appeal of staking assets like Ethereum (ETH), Cardano (ADA), and Solana (SOL) by deferring tax liabilities. Furthermore, the amendment seeks to create a tax waiver for crypto transactions under $300, with a $5,000 annual cap, potentially lowering the barrier for retail adoption and increasing micro-transaction volume. However, the legislation also intends to close the wash-sale loophole, which would eliminate a popular tax-loss harvesting strategy used by many crypto traders. This legislative effort faces political headwinds, as Senator Adam Schiff has introduced a separate bill, the COIN Act, to prohibit officials like President Trump from engaging in crypto ventures, creating uncertainty for broader market regulation. These developments come as the market shows signs of weakness, with ETH, ADA, and SOL all posting 24-hour losses against the US dollar.

According to @GOPMajorityWhip, U.S. Senator Cynthia Lummis is advancing a significant amendment to reform cryptocurrency taxation. The proposal seeks to waive capital gains taxes on crypto transactions under $300, with an annual cap of $5,000, to encourage wider adoption by simplifying tax reporting for small-scale users. A key change for traders and investors involves altering the tax treatment of staking and mining rewards. The amendment proposes that rewards from staking, mining, airdrops, and forks be taxed only when the assets are sold, not upon acquisition as under current rules. This would end the current 'double taxation' structure, aligning tax policy with actual income realization. The legislation also aims to address the wash sale loophole for digital assets and clarify rules for charitable contributions. This effort is part of a broader push to establish clear regulatory frameworks for the digital asset industry, including the GENIUS Act for stablecoins and the BITCOIN Act, to ensure the U.S. remains a leader in financial innovation.