Senator Lummis Pushes for Crypto Tax Fix in Sweeping Legislation
U.S. Senator Cynthia Lummis is preparing to introduce an amendment to the upcoming “One Big Beautiful Bill” aimed at easing tax burdens for crypto users, particularly those involved in mining and staking.
In a post on social platform X, Lummis said she is working to “stop unfair tax treatment” of digital asset holders by eliminating double taxation on block rewards. Under current law, crypto earned through staking or mining is taxed first upon receipt and again when sold — a system Lummis says stifles innovation.
The move echoes earlier bipartisan calls to exempt small crypto transactions from capital gains tax, a proposal that would eliminate the need for tedious calculations on everyday purchases. Supporters argue that the current rules are impractical and deter adoption.
Advocacy groups, including the Bitcoin Policy Institute, Satoshi Action Fund, and the Solana Policy Institute, have launched coordinated lobbying efforts urging Congress to adopt these changes. They are asking lawmakers to treat block rewards like other forms of self-generated property, which are taxed only upon sale.
Industry leaders like Cody Carbone of the Digital Chamber have also thrown support behind the proposal, calling it a common-sense fix that aligns crypto taxation with how physical goods are handled.
With time running short before the bill reaches the Senate floor, crypto advocates hope to secure a key victory that could pave the way for broader adoption by reducing compliance friction and keeping innovation within U.S. borders.
Senate negotiators have not yet released the amendment’s language, and it remains unclear whether the tax changes will be packaged together or split into separate proposals.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
