Senator Cynthia Lummis is advocating for a crypto tax reform amendment in the Senate's reconciliation bill.
The proposed amendment includes a $300 de minimis exemption and changes to the taxation of staking and mining rewards.
Crypto advocates are lobbying for support of the amendment to eliminate double taxation on crypto staking and mining income.
The outcome of the amendment remains uncertain as Senate leaders review various proposals before the deadline, balancing political pressures for swift passage.