Lummis Crypto Tax Overhaul: $300 Small Small Exemption

Senator Cynthia Lummis (R-WY) don unveil one big big crypto tax reform bill wey she design to make reporting easy, reduce wahala and make digital assets grow well well. The bill get small small rule wey talk say any transaction wey under $300 no go need tax (but max na $5,000 per year), and this one go dey adjust every year from 2026 based on inflation. E also extend the 30-day wash sale rule to crypto. Income from crypto lending go now dey classified as securities lending, no be taxable sales again, and traders fit choose to pay tax yearly based on mark-to-market. Tax for mining and staking rewards go wait until person commot the asset, and valuation for charity crypto donation no go dey required again. Joint Committee on Taxation talk say this reform fit bring $600 million net revenue from 2025 go 2034, to cover the cost wey e go need at first. Overall, the bills want make crypto tax clearer, reduce wahala tax, and make US digital asset market grow sharp sharp.