The One Big Beautiful Act Passes in the U.S. Senate — Without Bitcoin Tax Amendment
The One Big Beautiful Act Passes in the U.S. Senate — Without Bitcoin Tax Amendment
Today, the One Big Beautiful Act passed in the U.S. Senate with a 51-50 vote, the final vote having been cast by Vice President Vance.
JUST IN: Vice President JD Vance breaks tie to pass President Trump’s “Big Beautiful Bill” pic.twitter.com/u3GhRXsg4z
— Bitcoin Magazine (@BitcoinMagazine) July 1, 2025
After a marathon amendment session, the bill passed without any Bitcoin- or crypto-related amendments included in it.
Senator Cynthia Lummis (R-WY) pushed for a vote on an amendment to the bill that would have provided for a de minimus capital gains exemption on crypto transactions of $300 or less, with a $5,000 yearly cap.
The senator urged Bitcoin and crypto enthusiasts to call their senators to let them know that this issue was important to them.
Call your Senators. Let ‘em know this matters to you! https://t.co/aQsSiOxLZs
— Cynthia Lummis (@CynthiaMLummis) June 30, 2025
Leaders in the Bitcoin and crypto industry also spoke up about the importance of this amendment being added to the bill.
BTC Inc. Chairman David Bailey shared on X that “the de minimus transaction exemption is the #1 request from the grassroots bitcoin and crypto community and anyone who stands against it is directly screwing over the 50m Americans that own bitcoin and crypto.”
Gemini co-founder Tyler Winklevoss stated on X that “Passing the de minus transaction exemption for bitcoin and crypto transactions <$300 is critical to making America the bitcoin and crypto capital of the world.
But alas, Senate Finance Committee Chairman Mike Crapo (R-ID) did not facilitate a vote on the amendment.
Senator Lummis has acknowledged that the proposed amendment was not voted on and said that she plans to continue working with Senator Crapo to pass a law addressing crypto tax treatment.
The senator’s office share the following statement with Bitcoin Magazine:
“Senator Lummis had productive conversations with Chairman Crapo and other Senate Finance Committee members over the last few weeks, and looks forward to continuing her work with the Chairman and the rest of the committee to fix these important tax issues at a later date.”
Senator Lummis did not comment further on when that later date might be.
This post The One Big Beautiful Act Passes in the U.S. Senate — Without Bitcoin Tax Amendment first appeared on Bitcoin Magazine and is written by Frank Corva.
Filed under: Bitcoin - @ July 1, 2025 5:24 pm