US Proposes Tax Exemption for Crypto Transactions Under $300

9 hours ago

What is the key proposal of Cynthia Lummis's newly introduced bill regarding cryptocurrency?

Why does Cynthia Lummis believe this tax exemption bill is important for small investors?

How could the proposed tax exemption impact the global cryptocurrency market?

미국, 암호화폐 소액 거래 세금 면제... 300달러 이하 주목 — Image source: Unblock Media

- Senator Cynthia Lummis introduces bill to ease crypto tax burdens. - Policy aims to support small investors and boost market activity. On July 1, U.S. Senator Cynthia Lummis introduced legislation to exempt cryptocurrency transactions under $300 from taxation, according to CoinDesk. The bill is expected to be included in former President Donald Trump's upcoming 'Big and Beautiful' budget proposal and is intended to simplify tax compliance and encourage micro-investing in digital assets. The bill proposes that any crypto transaction below $300 will not be subject to capital gains tax. Lummis argued that small investors are deterred by the current complex tax system and that meaningful support is needed to increase accessibility to the crypto market. Under existing laws, all crypto transactions are taxable—even small ones—making it burdensome for users to report each trade. This complexity is seen as a barrier for newcomers and smaller traders. The new bill seeks to remove such friction and foster a healthier crypto ecosystem. Lummis plans to align the bill’s submission with the release of Trump’s budget proposal, which includes broader economic reform measures. The crypto industry sees this legislation as a potentially positive signal for regulatory clarity and adoption. Experts believe that if passed, the bill could significantly improve accessibility and transaction volume in the U.S. crypto market. Martin Henry, a senior analyst at Xangle, noted that similar tax-exemption proposals are under review in other countries. He added that U.S. leadership in this area could set a global precedent and spur increased international crypto activity. As of July 1 (UTC), Bitcoin (BTC) was trading around $28,500, while Ethereum (ETH) stood at approximately $1,800. Market participants are showing more optimism about regulatory shifts than short-term price fluctuations. If passed, this tax exemption could mark a major step toward a more investor-friendly digital asset environment in the U.S.