Analysis: The Tax-Free Provision for Small Cryptocurrency Transactions Has Yet to Surface as Indicated, or Opportunity Missed.

BlockBeats News, July 1st, According to crypto reporter Eleanor Terrett, after more than 24 hours of amendment proceedings in the U.S. Senate, there is still no sign of Senator Cynthia Lummis' (sponsor of the Bitcoin Reserve Act) cryptocurrency tax proposal being passed. The time window for submitting the proposal for Senate discussion may have closed or an opportunity may have been missed.

Previously, Senator Lummis proposed adding a provision for small-value cryptocurrency transactions to be tax-exempt in the "beautiful bill," including a provision for tax exemption for small cryptocurrency transactions (less than $300). Industry insiders believe that this would streamline the current practice of taxing both ends of core cryptocurrency activities—staking and digital asset mining.