Senate Hearing on Crypto Taxes After IRS Eases CAMT

Next week, the US Senate Finance Committee will hold a hearing on crypto taxes, chaired by Senator Mike Crapo. The session follows IRS Notices 2025-46 and 2025-49, which eased compliance with the 15% Corporate Alternative Minimum Tax (CAMT) by allowing firms to exclude unrealized gains and losses on digital assets held at fair value. Key witnesses include Coinbase’s VP of Tax Lawrence Zlatkin, Coin Center’s Policy Director Jason Somensatto, attorney Andrea Kramer and AICPA Digital Assets Tax Task Force chair Annette Nellen. Lawmakers will debate digital asset taxation, capital gains treatment, transaction tracking and the tax implications of staking, mining and payments. Senator Cynthia Lummis is expected to advocate ending double taxation on stakers and miners and introducing a de minimis exemption for small crypto transactions. A group of senators led by Scott Bessent also urged the Treasury to restrict the CAMT to realized gains, warning that current rules could force US firms to sell tokens. The hearing responds to calls from the White House Digital Asset Working Group to treat crypto as a distinct asset class and update federal tax policy. Traders should watch for new clarity on crypto taxes, as potential reforms could influence firm strategies and market dynamics, particularly for firms like MicroStrategy, which holds over 640,000 BTC with $13.5 billion in unrealized gains.