Senator Lummis Introduces Bill Exempting Bitcoin Transactions Under $300, Ending Double Taxation; Bill Miller IV Supports Reform

24 posts • GPT (4.1 mini)

Published Jul 6, 2025, 09:35 PM

Senator Cynthia Lummis has introduced new legislation aimed at reforming the taxation of Bitcoin and other cryptocurrencies in the United States. The bill proposes to exempt cryptocurrency transactions under $300 from capital gains taxes, effectively removing tax obligations on small personal crypto payments. Additionally, the legislation seeks to end the double taxation faced by Bitcoin miners and stakers, who are currently taxed both when they receive block rewards and again upon selling their assets. The bill also aims to align the tax treatment of digital assets with that of traditional financial instruments and includes provisions for fairer tax treatment of lending and donations involving cryptocurrencies. Senator Lummis emphasized the need to stop what she described as unfair tax treatment to ensure America maintains its leadership as a global Bitcoin and crypto superpower. The proposal follows public support from billionaire investor Bill Miller IV, who has publicly stated that taxing Bitcoin "doesn’t make a ton of sense," highlighting ongoing debates about crypto tax policy.

More breaking stories on DeepNewz — updated live.

#Cynthia Lummis #Bitcoin #United States #Lummis #America #Bill Miller IV

Financial Analysis

Associated Financial Markets

More financial news and market updates→

Related Prediction Markets

Senate passes bill to purchase 1m Bitcoin in 2025?

Trump eliminates capital gains tax on crypto in 2025?

Clarity Act signed into law in 2025?

Texas Strategic Bitcoin Reserve Act (H.B. 1598) signed in 2025?

US Politicians banned from launching cryptocurrencies before July?

•

Sources

Mario Nawfal’s Roundtable

@RoundtableSpace

JUST IN: BILLIONAIRE BILL MILLER IV - TAXING BITCOIN 'DOESN’T MAKE A TON OF SENSE' Source: @cointelegraph

Crypto Town Hall

@Crypto_TownHall

BILLIONAIRE BILL MILLER IV SAYS TAXING BITCOIN “DOESN’T MAKE A TON OF SENSE” Investor Bill Miller IV questioned the logic behind taxing Bitcoin, arguing it doesn’t align with its unique monetary structure. His comments add to the broader debate around crypto tax policy and