US Senator Lummis announces digital asset tax legislation, proposing multiple measures such as tax exemption for small transactions

US Senator Cynthia Lummis has announced her proposed comprehensive digital asset tax legislation, striving to submit it to the President and welcoming public opinions on the bill. The bill focuses on multiple key issues: setting a minimum rule of $300 for small transactions (with an annual total cap of $5000), adjusted for inflation from 2026, and balancing taxation and transaction convenience; In terms of digital asset lending, expanding securities lending rules to prevent immediate tax consequences of temporary lending and promote the healthy development of the market; Revise the terms to fill the loophole of false trading losses and ensure tax fairness between digital assets and traditional securities; Allow traders to price at market prices and eliminate asset type discrimination; The recognition of mining and pledge profits is postponed until asset disposal to alleviate taxpayers' financial pressure; In the field of charitable donations, exemption from active trading digital asset evaluation reduces the difficulty of donations. According to the Joint Taxation Committee of Congress, the bill is expected to generate approximately $600 million in net fiscal revenue between 2025 and 2034.