Key Takeaways
- Senator Cynthia Lummis is drafting a brand new modification to guard Bitcoin customers from tax penalties.
- The modification is tied to the Oversight of Construct Again Higher (OBBB) framework.
- No particular particulars have been launched but on what the modification will embody.
Senator Cynthia Lummis revealed she is engaged on a brand new modification designed to guard People who use Bitcoin and different digital property from tax-related penalties.
The announcement, shared by way of social media, signifies the modification will likely be added to ongoing legislative efforts related to the Oversight of Construct Again Higher (OBBB) framework.
Assertion from Senator Lummis
Lummis posted:
America leads in monetary innovation, and because of President Trump, we’re maintaining it that manner! I’m engaged on an OBBB modification to make sure People can use digital property with out worry of tax violations.
America leads in monetary innovation, and because of President Trump, we’re maintaining it that manner! 🇺🇸 I’m engaged on an OBBB modification to make sure People can use digital property with out worry of tax violations. Extra to return quickly!
— Senator Cynthia Lummis (@SenLummis) June 30, 2025
Particulars & legislative context
Whereas the precise particulars of the modification stay undisclosed, her assertion suggests a broader effort to protect on a regular basis Bitcoin customers from complicated or punitive tax guidelines.
The transfer comes because the Senate prepares to vote on a separate modification that might exempt Bitcoin funds underneath $600 from capital good points tax reporting necessities.
Advocacy & legislative focus
David Bailey, a vocal Bitcoin advocate, has urged supporters to contact their senators about this vote, which might happen as early as tonight.
Although Lummis’s modification is distinct, it provides to a wave of legislative concentrate on lowering tax friction for Bitcoin customers.
Timeline for introduction
No timeline has been supplied for when her proposed modification will likely be formally launched or debated.