According to @FoxNews, a significant crypto tax amendment proposed by U.S. Senator Cynthia Lummis was not included in the major budget bill that recently passed the Senate. The proposed measure sought to simplify tax obligations for crypto users by waiving capital gains taxes on transactions below $300, with an annual cap of $5,000. For traders and investors involved in staking and mining, the amendment aimed to resolve what the industry calls unfair double taxation by taxing rewards only when they are sold, rather than upon acquisition and again at the point of sale. The proposal also intended to address crypto lending, charitable contributions, and the wash sale loophole which currently allows for tax-loss harvesting. Despite lobbying efforts from the crypto industry, the amendment failed to make it into the final bill, meaning the current tax rules, including the complex reporting for small transactions and the tax treatment of staking and mining rewards, remain in place for now. The broader budget bill now moves to the House of Representatives for another vote.

According to @WhiteHouse, the U.S. Senate has passed a major budget bill without including Senator Cynthia Lummis's proposed amendment for crypto-friendly tax reforms. The amendment aimed to provide significant relief for crypto users by waiving capital gains taxes on transactions under $300 and altering the tax treatment for staking and mining rewards. The proposed change would have taxed these rewards only upon their sale, rather than at the time of acquisition, addressing a key issue of double taxation for the industry. Despite lobbying efforts, the amendment was not included in the bill, which passed on a narrow 50-50 vote and now moves to the House of Representatives for further debate. This legislative setback for U.S. crypto tax clarity comes as the market shows bullish momentum, with Ethereum (ETH) trading around $2,600 (a 6% increase), Cardano (ADA) near $0.60 (an 8.5% increase), and Solana (SOL) at approximately $155 (a 4% increase) in the last 24 hours, based on provided data.

According to @MilkRoadDaily, Wall Street broker Bernstein anticipates the U.S. Senate's GENIUS Act for stablecoin regulation will pass into law within the next few months. The firm's research report states this legislation will transform stablecoins from a crypto-specific tool into the 'money rail of the internet,' driving wider mainstream adoption for digital payments. The act mandates federal regulation for stablecoins with a market cap exceeding $10 billion, giving a significant advantage to U.S. regulated issuers. Bernstein also notes the bill would likely prevent non-financial public companies like Amazon or Walmart from issuing their own stablecoins, compelling them to partner with regulated financial entities for any stablecoin integration.

According to @FoxNews, a significant crypto tax amendment proposed by Senator Cynthia Lummis was not included in the major budget bill that recently passed the U.S. Senate. The proposed changes would have been highly beneficial for crypto traders and investors by waiving capital gains taxes on transactions under $300 and altering the tax treatment for staking and mining rewards. Under the proposal, rewards from staking, mining, airdrops, and forks would only be taxed upon sale, rather than upon both acquisition and sale as under current law. The failure of this amendment to be included means that the current, more burdensome tax regulations remain in place for now, a key consideration for traders calculating profits and for individuals participating in staking. The broader budget bill now moves to the House of Representatives for another vote, but this specific pro-crypto tax measure has suffered a major setback.

According to @WhiteHouse, the U.S. Senate has passed a major budget bill without Senator Cynthia Lummis's proposed crypto tax provision, which would have waived capital gains taxes on small-scale transactions, leaving tax uncertainty for crypto traders. In a separate development, Senate Banking Committee Chairman Tim Scott has set a new deadline of September 30 for finalizing a comprehensive crypto market structure bill, providing a key date for market participants to watch. However, potential delays loom as the House and Senate must reconcile different versions of stablecoin and market structure legislation, with Representative French Hill signaling more work is needed. This ongoing legislative uncertainty continues to influence the market, where recent data shows Ethereum (ETH) trading down approximately 3.7% against USDT to around $2,400.

According to @GOPMajorityWhip, the U.S. Senate has passed a major budget bill without including a key amendment that would have eased cryptocurrency taxation. The proposal, championed by Senator Lummis, aimed to waive capital gains taxes on small-scale digital asset transactions but was not adopted. Despite this setback for crypto tax reform, the source highlights significant legislative progress in other areas, such as the passage of the GENIUS Act to establish clear regulations for stablecoins. The author emphasizes the continued push for broader market structure reform, including the Lummis-Gillibrand Act, to distinguish between digital asset securities and commodities, and calls for a de minimis tax exemption for everyday Bitcoin (BTC) purchases. This ongoing regulatory uncertainty is set against a market backdrop where Bitcoin (BTC) trades at approximately $106,511, down 0.25% in 24 hours, and Ethereum (ETH) is at $2,441, down 0.5%, reflecting potential trader caution.

According to @BillGates, the U.S. is on the verge of cementing its leadership in digital assets as the Senate prepares for a final vote on the GENIUS Act, a landmark bill for stablecoin regulation. The legislation aims to provide clear guidelines for the over $190 billion stablecoin market by mandating high-quality liquid reserves, regular audits, and clear redemption rights, which the source argues is crucial for bolstering the U.S. dollar's global dominance. This legislative push for clarity, which also includes the proposed BITCOIN Act to define Bitcoin's legal status, comes as the market experiences a downturn. Current data shows Bitcoin (BTC) has fallen 1.77% to $105,534.44, while Solana (SOL) has dropped 5.44% to $146.56, underscoring the high stakes of regulatory developments on asset prices.

According to @WhiteHouse, the U.S. Senate has passed a major budget bill without including a key amendment from Senator Cynthia Lummis aimed at easing cryptocurrency taxation. The proposed changes would have waived capital gains taxes on crypto transactions under $300 and altered the tax treatment of staking and mining rewards to only be taxed upon their sale, addressing what the industry considers double taxation. The failure of this amendment to be included means the current, less favorable tax rules remain in effect, creating continued regulatory uncertainty for traders and investors. This legislative development occurred as the cryptocurrency market saw a downturn, with major assets like Ethereum (ETH), Cardano (ADA), and Solana (SOL) experiencing significant price drops. For instance, the provided data shows SOLUSDT fell by over 5% and ADAUSDT declined by over 5.4% in 24 hours, highlighting potential market sensitivity to U.S. regulatory news.

According to @GOPMajorityWhip, traders and investors are facing a mixed regulatory landscape in the U.S. A significant budget bill advanced from the Senate without a crypto-friendly tax amendment from Senator Cynthia Lummis, which sought to waive capital gains on small transactions, leaving the tax treatment of minor crypto trades unchanged for now. On a more positive note for market clarity, Senate Banking Committee Chairman Tim Scott has set a new deadline of September 30 to finalize the comprehensive crypto market structure bill. While this timeline is later than some had hoped, it provides a concrete target for establishing clear rules for the digital asset industry. However, potential delays loom as the House and Senate must still reconcile differing versions of key stablecoin legislation, a critical component for market infrastructure.

According to @rovercrc, the U.S. Senate has passed a major budget bill without including a crypto-friendly tax amendment proposed by Senator Cynthia Lummis. This provision, which aimed to waive capital gains taxes on small-scale cryptocurrency transactions, failed to be added despite lobbying from the digital assets industry. This legislative setback maintains the current state of tax uncertainty for crypto investors in the U.S. The news coincides with negative market performance, as seen with Ethereum (ETH), where the ETHUSDT pair dropped by 3.838% to $2416.53 and the ETHUSD pair fell 3.702% to $2417.29, highlighting how regulatory developments can impact trader sentiment and asset prices.

According to FoxNews, U.S. Senator Tim Scott has set a new deadline of September 30 for completing the crypto market structure legislation, a timeline he described as a "realistic expectation." This development comes as President Donald Trump urges the House of Representatives to immediately pass the Senate's stablecoin bill, the GENIUS Act, without any amendments. However, Representative French Hill, Chairman of the House Financial Services Committee, indicated that there are "subtle, some material" differences between the Senate's GENIUS Act and the House's STABLE Act that need to be resolved. These differences pertain to issues like extraterritoriality and the roles of state and federal regulators. This divergence between the House and Senate, coupled with the fact that the Senate Agriculture Committee must also approve the market structure bill, introduces significant uncertainty for traders and could delay the establishment of a clear regulatory framework for the U.S. crypto market.

According to @Polymarket, U.S. Senator Cynthia Lummis is pushing to include significant cryptocurrency tax reforms in a major budget bill. The proposed amendment would waive capital gains taxes on crypto transactions under $300, with an annual cap of $5,000, potentially lowering the barrier to entry for new users. For traders and network participants, the most crucial change involves the tax treatment of rewards from staking, mining, airdrops, and forks; the proposal seeks to tax these assets only upon their sale, rather than upon acquisition and again at sale, as is current practice. The source also notes this would align the tax policy with actual income realization. Additionally, the amendment aims to address the wash sale rule for crypto, closing a loophole used for tax-loss harvesting. Senator Lummis expressed a goal of finalizing comprehensive crypto legislation before the end of the calendar year, though she acknowledged the process faces bipartisan challenges. These potential changes represent a significant bullish catalyst for the U.S. crypto market, directly impacting the profitability of staking and mining operations and simplifying tax reporting for retail investors.

According to @WhiteHouse, U.S. Senator Tim Scott has set a new September 30 deadline for completing the crypto market structure legislation, a timeline confirmed by Senator Cynthia Lummis. This development introduces a key date for crypto traders and investors monitoring U.S. regulatory progress. The timeline is later than President Trump's request for faster action but sooner than previous year-end estimates. Meanwhile, significant hurdles remain, particularly with the stablecoin bill. House Financial Services Committee Chairman French Hill has indicated that differences between the Senate's GENIUS Act and the House's STABLE Act need to be resolved, suggesting a longer negotiation process that could delay the establishment of clear rules for stablecoin issuers. The White House is pushing for the House to pass the Senate's version without changes, creating tension between the chambers and adding to the regulatory uncertainty impacting the cryptocurrency market.

According to Eleanor Terrett, U.S. Senator Cynthia Lummis is advancing a significant amendment to a major budget bill that could dramatically alter the tax landscape for cryptocurrency traders and users. The proposed legislation seeks to create a de minimis tax exemption for crypto transactions under $300, with an annual cap of $5,000, which could lower the barrier to entry for new investors. A key provision aims to change how staking, mining, and airdrop rewards are taxed, shifting the taxable event from the moment of acquisition to the point of sale, aligning policy with income realization. This change, supported by industry groups like the Digital Chamber, would resolve the current double-taxation issue on such rewards. The amendment also targets the closure of the crypto wash-sale loophole, a strategy used for tax-loss harvesting. This legislative push, which includes broader efforts like the GENIUS Act for stablecoins and the BITCOIN Act, is presented as a crucial step for the U.S. to maintain leadership in digital asset innovation. While these regulatory developments suggest a long-term bullish catalyst for the market, current data shows Bitcoin (BTC) trading at approximately $107,437, down 0.92% in 24 hours, while Solana (SOL) is up around 1% at $155.32 and Cardano (ADA) is down 0.26% at $0.5747.

According to @rovercrc, U.S. Senator Tim Scott, chairman of the Senate Banking Committee, has set a new deadline of September 30 for completing the crypto market structure legislation. This timeline is later than President Trump's request for an August completion but earlier than a previous year-end prediction. The announcement comes as President Trump urges the House of Representatives to quickly pass the Senate-approved stablecoin bill, the GENIUS Act, without any amendments. However, key House lawmakers, including Representative French Hill, have indicated that differences between the Senate's GENIUS Act and the House's STABLE Act need to be resolved, suggesting a potentially longer process. Senator Scott expressed confidence that both the market structure and stablecoin bills can be advanced in a timely manner, citing the House's Clarity Act as a "strong template" for their work. The outcome and timing of this legislation remain critical for traders, as it will establish the regulatory framework for stablecoins and the broader U.S. crypto market.

According to @FoxNews, U.S. Senator Tim Scott has set a new target of September 30 for finalizing the crypto market structure bill, a timeline later than President Trump's August goal but faster than previous year-end estimates. This announcement puts pressure on the House of Representatives, where key lawmaker French Hill has indicated a need to reconcile differences between the Senate's GENIUS Act for stablecoins and the House's own version, potentially delaying the process. This legislative uncertainty creates a key dynamic for crypto markets, as regulatory clarity is a major catalyst for institutional adoption and price stability. The outcome of these discussions on stablecoins and market structure will significantly impact the operational landscape for cryptocurrencies like Ethereum (ETH), which was trading around $2,500 at the time of the report.

According to @FoxNews, U.S. Senator Tim Scott, Chairman of the Senate Banking Committee, has set a new deadline of September 30 for completing the crypto market structure legislation. Scott communicated this timeline to a White House crypto adviser, noting it is later than President Trump's August target but earlier than Senator Cynthia Lummis's previous year-end prediction. However, potential delays remain as the House of Representatives has not announced its strategy for reconciling its own bill, the Digital Asset Market Clarity Act, with the Senate's efforts. Furthermore, the Senate Agriculture Committee, whose input is also required, has not shown the same urgency. For traders, this revised timeline provides a more concrete, albeit still challenging, path toward regulatory clarity in the U.S., a key factor that could influence market sentiment for assets like Bitcoin (BTC) and Ethereum (ETH).

According to FoxNews, as the U.S. Senate passed a significant stablecoin regulation bill with bipartisan support, President Donald Trump and his family have reportedly reduced their stake in the parent company of crypto firm World Liberty Financial (WLFI). Legal disclosures indicate the family-affiliated entity, DT Marks DEFI LLC, decreased its ownership from 60% to 40%. This development is critical for traders as WLFI operates its own stablecoin, USD1. The advancement of the bill could create a more stable regulatory framework for compliant stablecoins, potentially benefiting USD1. However, lawmakers have raised concerns about potential conflicts of interest, introducing a political risk factor for the market. The report also highlights Trump's extensive connections to the crypto industry, including NFTs and Bitcoin (BTC) mining ventures, signaling his growing influence on the sector's regulatory future.

According to the source, U.S. Senator Tim Scott has set a new target deadline of September 30 for completing the crypto market structure bill, a timeline supported by the White House but potentially complicated by political divisions. The source states that while the Senate pushes forward, with Senator Lummis agreeing to the chairman's timeline, House lawmakers appear more hesitant. A significant trading risk emerges from bipartisan friction, highlighted by Senator Adam Schiff's introduction of the COIN Act, which aims to prohibit officials like President Trump from issuing or sponsoring digital assets. This legislative effort, backed by other Democrats, could create roadblocks for the broader market structure bill, introducing regulatory uncertainty for traders. As these key regulatory discussions unfold, market data shows positive momentum for assets like Solana (SOL), which is up over 3%, and Ethereum (ETH), up nearly 1%, indicating market sensitivity to legislative news.

According to the author, stablecoins have achieved $35 trillion in annual transaction volume and 30 million users, signaling a shift towards narrow banking that enhances crypto market liquidity and reduces systemic risks. US Congress is advancing legislation to regulate stablecoins, which could accelerate DeFi trading volumes and increase adoption of cryptocurrencies like BTC and ETH, creating new trading opportunities.