Senator Cynthia Lummis submitted to the US Congress a bill proposing to introduce tax preferences for private crypto -investors and eliminate double taxation of miners.

The bill proposes to exempt from tax on capital transactions with cryptocurrencies in an amount of up to $ 300 with an annual limit for non -cable operations of $ 5,000. According to the senator, this will simplify the use of digital assets for US citizens for everyday payments, such as buying goods or services, and will also eliminate the need to track small transactions for tax reporting.

The document proposes to introduce a delay in taxation of income from mining and stakeing until the sale of assets. According to the author, this will eliminate the problem of double taxation, which miners and stakers are now facing.

“It is impossible to allow the outdated tax policy to prevent American innovations. We must guarantee that Americans will be able to participate in a digital economy without unintentional tax violations, ”Synthia Lammis explained.

The bill simplifies the use of cryptocurrencies for charitable purposes, freeing such operations from a mandatory procedure for assessing the value of donated assets. Now, before cryptocurrencies are used for the statutory goals of the charity organization, it is obliged to conduct a market assessment of the cost of a donation from an independent auditor. This leads to additional costs.

The bill also offers tax bones for transactions with lending in digital assets. It is stipulated that operations related to cryptocreding, for example, the provision of cryptocurrencies through the Defi platform, will not be considered a taxable event.

According to preliminary estimates by Lammis itself, in the event of the approval of the bill, the US State budget may receive an additional $ 600 million income from 2025 to 2034 – by facilitating the tax load, which prevents the development of the national crypto industry.

Earlier, a group of Republicans, led by the Senator from Vaiming Sintia Lammis, appealed to the US Department of Finance with a proposal to revise the taxation of corporate revenues of digital assets.