Trump’s ‘Big Beautiful Bill’ Passes Senate—Without Bitcoin Tax Exemptions

Senate Passes President Trump’s Reconciliation Bill, Excludes Key Crypto Tax Amendments

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.

Missed Opportunity for Crypto Industry

In the hectic final hours of negotiations over the president’s “One Big, Beautiful Bill,” pro-crypto senators and industry policy leaders tried to add an amendment containing tax benefits for crypto stakeholders. Despite efforts from Sen. Cynthia Lummis (R-WY) and others, the clock ran out, leading to a missed opportunity for the industry.

Last-Minute Push for Amendment

Over the weekend, the crypto tax provisions were deemed ready for inclusion, prompting a flurry of activity on Monday. Lummis aimed to raise the amendment during the vote-a-rama on the bill, with crypto policy leaders urging Americans to contact their senators in support.

Future Outlook for Crypto Amendments

While the crypto provisions were not included in the bill, Senator Lummis remains optimistic. Discussions with top Republicans, including Senate Finance Committee chair Mike Crapo, suggest that the issues raised by the crypto community are on their radar for future consideration.

Potential Inclusions in Crypto Amendment

Experts speculate that the proposed crypto tax provisions would have addressed double taxation of mining and staking rewards, mark-to-market accounting for companies reporting unrealized gains, and a de minimis tax exemption for small crypto transactions. These measures aim to provide clarity, flexibility, and incentives for greater adoption of crypto in everyday transactions.

Edited by Andrew Hayward