US Senator Lummis: The Senate is making progress on crypto tax regulations

Jinse Finance reported that Cynthia Lummis, a strong advocate for cryptocurrency and a senator, stated that the Senate Finance Committee is making progress on legislation regarding how to tax digital assets. The crypto-friendly Republican from Wyoming said during her speech at BTC in DC in Washington, D.C. on Tuesday: "From what I understand, the draft being prepared by the Senate Finance Committee contains 10 items, 9 of which were proposed by us, plus one more, so I think we are making progress in this area." Previously, in July, Cynthia Lummis introduced legislation aimed at modernizing the tax treatment of digital assets, which included a de minimis provision that excludes gains or losses from crypto transactions under $300 from taxation, declares that digital asset lending is not a taxable event, among other measures.