Catenaa, Wednesday, July 02, 2025-A key cryptocurrency tax amendment spearheaded by Sen. Cynthia Lummis, R-Wyo., was left out of President Donald Trump’s sweeping “Big, Beautiful Bill” passed by the Senate on Tuesday.
The provision aimed to establish a $300 de minimis tax exemption for crypto transactions and clarify how miners and stakers are taxed. Despite a robust push from digital asset advocates, the amendment did not receive a vote during the marathon amendment session.
The bill advanced on a 50-50 vote, with Vice President JD Vance casting the tie-breaking vote. The legislation now moves to the House, where it must pass before Friday to meet Trump’s self-imposed deadline.
Sen. Lummis said she remains committed to reintroducing the tax changes in future legislative efforts. In a statement, she noted productive talks with Senate Finance Committee Chairman Mike Crapo and other lawmakers and pledged to continue working toward a fairer tax framework for crypto holders.
The amendment had received vocal support from industry groups and crypto advocates, who urged constituents to contact senators ahead of the vote. Despite the omission, Lummis and allies like Crapo, Sen. Tim Scott, and Majority Leader John Thune were praised for their efforts.
Paradigm’s government affairs lead, Alexander Grieve, acknowledged the setback but maintained optimism, promising the community that the push for reform would continue through alternative channels.
