According to Eleanor Terrett, U.S. Senator Cynthia Lummis is pushing to include a significant crypto tax amendment in a major budget bill. The proposed measure would waive U.S. taxes on crypto transactions under $300, with a yearly cap of $5,000 in total transactions, potentially lowering the barrier to entry for new users. For traders and network participants, the amendment seeks to fundamentally change how rewards from staking, mining, airdrops, and forks are taxed. Citing support from the Digital Chamber lobbying group, the proposal would shift the taxable event from the moment of acquisition to the point of sale, aligning the policy with when income is actually realized. Additionally, the amendment aims to close the wash-sale loophole, which would eliminate the tax-loss harvesting strategy currently used by many crypto investors.