Trump’s ‘Big Beautiful Bill’ Passes Senate—Without Bitcoin Tax Exemptions
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In brief The Senate narrowly passed President Trump’s sprawling reconciliation bill, which did not include a crypto-specific amendment industry leaders had been hoping for. Sen. Cynthia Lummis (R-WY) had pushed Monday to include several crypto-related tax perks in the legislation. But ultimately, the effort “just ran out of time,” one crypto policy leader said. The U.S. Senate narrowly passed President Donald Trump’s massive reconciliation bill on Tuesday—but failed to include key tax amendments in the legislation that would have benefited crypto users. In the hectic final hours of heated negotiations over the president’s “One Big, Beautiful Bill,” pro-crypto senators and industry policy leaders raced to tack an amendment onto the bill containing numerous long-sought tax benefits for crypto stakers and miners, businesses that hold crypto stockpiles, and retail digital assets users. Ultimately, however, the clock ran out. Only over the weekend were the crypto tax provisions, spearheaded by Sen. Cynthia Lummis (R-WY), deemed ready for showtime, sources previously told Decrypt. That timing led to a flurry of activity on Monday, with Lummis pledging to raise a related amendment during the marathon vote-a-rama on the “Big, Beautiful Bill” in the hours before its passage, and crypto policy leaders urging Americans to call their senators in a push to get the amendment to the Senate floor. 🚨It’s time to call key senators. We have a full script for you below! We have a real shot to end the double taxation of mining and staking rewards. This will level the playing field for the industry. It’s very important that you are polite and respectful. Offices are more… — Dennis Porter (@Dennis_Porter_) June 30, 2025 But by the time Vice President J.D. Vance cast the tie-breaking vote to pass the megabill midday Tuesday, Lummis and Republican colleagues had not yet managed to get the…
Filed under: News - @ July 1, 2025 11:21 pm