Senator Lummis Seeks to Waive US Taxes on Small-Scale Crypto Activity in Budget Bill

U.S. Senator Cynthia Lummis is seeking to slip a significant crypto tax measure into the massive budget bill that backs much of President Donald Trump’s agenda, trying to reduce tax consequences stemming from fundamental cryptocurrency activities.

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Lummis sought on Monday to insert language into Congress’ “Big Beautiful Bill” that would, among other things, waive taxes on small crypto transactions below $300 and would — in the industry’s view — rationalize a tax approach that currently has people hit for taxes on both the front end and back end of activity at the heart of the sector’s inner workings: staking and digital assets mining.

The idea of making small transactions tax-free (capped at $5,000 in overall transactions each year)

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