Cynthia Lummis, Republican Wyoming Senator in the United States, presented a new tax bill with significant changes for crypto beings. The goal of this regulation is Bitcoin $109,658.18 It stands out as increasing the use of other crypto assets, especially, and supporting innovation in this field. The proposal aims to adapt the current tax legislation to the facts of the crypto economy and includes measures to reduce some bureaucratic barriers faced by crypto asset users.
Minimis exception in crypto currencies
According to the bill, small earnings and losses in crypto asset transactions will be exempted from tax. The law brings this exemption limited to $ 300 per transaction and a total of $ 5,000 annually. This regulation is also envisaged to implement inflation indexed increase in 2026. Regulation can significantly reduce the bureaucratic burden for the daily use of crypto assets.
Another important article is that the income obtained in the event of borrowing crypto assets is not taxed as sales, as in the fact that securities borrow. Thus, capital efficiency can be increased and compliance with the current financial system can be achieved.
The new bill proposes that the 30 -day Wash Sale rule also applies to crypto beings. Crypto asset sellers and investors who make purchase and sale will be able to benefit from the Mark-To-Market tax system, which can make annual income detection over fair market value.
The revenues obtained in mining or stake transactions of Bitcoin and other crypto currencies will not be taxed until the sale of assets is sold. In the current system, tax liability could arise before income was realized. This regulation aims to alleviate the tax burden on crypto asset mining or stinging individuals.
Editing for crypto money donations
The bill eliminates the necessity of valuation of crypto assets actively traded during the donation of charities. This convenience makes it possible to tax donations made on crypto assets in the same way as public stock donations. Thus, the donations can be opened and the contributions to crypto -based charities can be increased.
Senator Cynthia Lummis said that it is necessary to adapt to the development of the crypto asset ecosystem.
“We should not prevent American innovation, and this draft makes it easier to participate in the crypto economy.
We want to get the public thoughts before making this arrangement final. ”
According to the US Congress Joint Tax Committee, the regulation is expected to provide a net revenue of approximately $ 600 million between 2025-2034. This income can help to meet the cost of the bill. If the bill is enacted, serious flexibility will be offered in tax applications for those operating in the crypto asset sector.
While tax regulations on digital assets are experienced at the international level, the US steps are expected to set an example for other countries. Especially today, where the role of crypto currencies in the financial system is increasing, the compliance of the legislation to the developing technology continues to create an important issue in terms of the expectations of investors. Reducing the tax burden on digital assets and increasing the legal clarity can allow innovations in the sector to continue sustainable.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
