Bitcoin News
By MikeT
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Outdated Definitions Hurt Innovation. Much of the controversy centers around language introduced in the 2021 Infrastructure Investment…
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Crypto Gains Momentum Despite Regulatory Strain. Despite the ongoing tax complications, the broader crypto market has continued to perform…
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Lummis Pushes for Reconciliation-Based Reform. Senator Lummis isn’t just talking—she’s also taking action.
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Lawmakers Ramp Up Crypto Legislation. The momentum for crypto-related legislation is already building in Washington.
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Industry Response and What’s Next. The crypto community has largely welcomed Lummis’s comments, with many seeing them as a…
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Senator Cynthia Lummis has reignited the debate over how the U.S. government taxes Bitcoin and other cryptocurrencies.
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In a post shared on X (formerly Twitter), Lummis argued that “Bitcoin and digital assets are being unfairly targeted because of flawed tax rules,” and called on Congress to…
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The rules require “brokers” to report customer information such as names, addresses, and transaction amounts.
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Critics say this structure not only stifles innovation but also introduces the risk of double taxation.
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Still, many investors remain cautious. The current tax climate in the U.S. poses a significant challenge for both institutional and retail participants.
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Senator Lummis isn’t just talking—she’s also taking action. Her post included a call for “crypto revisions in reconciliation,” referring to a legislative process that allows…
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The reconciliation process is particularly attractive to pro-crypto lawmakers because it offers a quicker path to change.
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The momentum for crypto-related legislation is already building in Washington. This week, Congress is set to hold a cloture vote on the GENIUS Act, a bill aimed at modernizing…
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In a separate development, a new bill has been introduced to turn former President Donald Trump’s executive order proposing a Strategic Bitcoin Reserve into federal law.
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These legislative efforts suggest a sea change may be coming, and Lummis’s push for tax reform could fit neatly into this larger pro-crypto movement.
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