Cynthia Lummis Proposes New Crypto Tax Reforms, Opening the Door for Crypto Presale Investors
On July 3, Senator Cynthia Lummis introduced a new bill to fight for digital asset tax reform.
The proposed bill sets a ‘de minimis’ of $300; crypto transactions below this threshold won’t be tracked for capital gains.
Beyond setting the stage for small retail investors to join the crypto market, this legislation would also tackle the unfair double taxation placed on staking and mining rewards. Instead of being taxed when receiving airdrop rewards, crypto users would only pay when selling their new assets.
The senator had pushed for similar reforms earlier, during the drafting of President Trump’s ‘Big Beautiful Bill.’ The BBB passed congress on July 3, but without easing the burden of crypto taxation.
If Senator Lummis’s new proposal makes it as a standalone bill, this could mean big news for small-scale crypto investors. Small-cap assets, crypto presales, and airdrop events could soon see a lot more attention.
Trump’s Big Beautiful Bill just passed the House yesterday, which locked in tax cuts, $5T in new debt capacity, and massive reductions in food assistance and Medicaid.
To cut it short, not a pretty sight in general. But crypto is where it fortunately gets better. Deficit spending + the Fed reducing its balance sheet to potentially produce liquidity mismatches = Bitcoin rally, potentially.
As investors might seek a hedge against inflation, Bitcoin rises as the most immediate solution. Adding the fact Bitcoin miners may benefit from the clean energy subsidies, and you get a double package of crypto goodness.
These early-bird opportunities often deliver the biggest payouts because you’re buying it at the earliest possible price. And once the token lists on exchanges, it’s rocket-fuel time.
One presale in particular, set to end in 3 days, has just raised $8M in presale. BTC Bull Token ($BTCBULL) offers free Bitcoin airdrops as Bitcoin marches forward and touches higher ATHs.
