@taskmaster4450le's thread

Senator Lummis Introduces Digital Asset Tax Legislation

The bill proposes a $300 exemption for small Bitcoin and crypto transactions, defers taxes on mining and staking until assets are sold.

Today, U.S. Senator Cynthia Lummis (R-WY) has introduced a comprehensive digital asset tax legislation that could significantly boost the use of Bitcoin and other cryptocurrencies by cutting the bureaucratic red tape, modernising outdated tax rules, and supporting Bitcoin and crypto innovation.