Senator Lummis Proposes Tax Break for Small Bitcoin Payments to Boost Everyday Adoption
Senator Lummis Proposes Tax Break for Small Bitcoin Payments to Boost Everyday Adoption
Senator Cynthia Lummis is actively drafting legislation for a de minimis tax exemption on small cryptocurrency transactions. This proposal aims to make everyday Bitcoin payments more practical, potentially unlocking widespread adoption and allowing Americans to use Bitcoin for minor purchases without immediate tax implications.
On Capitol Hill, Senator Cynthia Lummis wants to make Bitcoin “everyday money.” The Wyoming Republican is quietly drafting legislation that could do what years of evangelism never managed: make buying coffee with Bitcoin practical again. Her proposal, a de minimis tax exemption for small crypto transactions, would let Americans spend a few hundred dollars’ worth […]