US Senator Submits Independent Cryptocurrency Tax Bill, Intending to End Double Taxation and Clarify Pledge Mining Tax Rules

Odaily Planet Daily News: US Senator Cynthia Lummis has drafted and submitted an independent cryptocurrency tax bill, proposing to exempt the profits from digital asset transactions that do not exceed $300 per transaction and $5000 per year, and to postpone the taxation of staking and mining rewards until the sale of assets. In addition, the bill also intends to exempt encrypted lending agreements and assets related to charitable donations from tax obligations. She stated that the bill will provide a reasonable and clear tax framework for digital economy participants, avoid unintentional violations, and promote the modernization of US cryptocurrency legislation. （Cointelegraph）