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Senators Cynthia Lummis and Bernie Moreno are urging the Treasury to exclude unrealized crypto gains from a Biden-era tax rule, warning it could unfairly tax companies on unsold assets. Their push comes amid broader shifts in crypto regulation under the Trump administration.
- Senators Lummis and Moreno argue taxing unrealized crypto gains under CAMT could force companies to sell assets just to pay taxes.
- The 2022 Inflation Reduction Act’s CAMT imposes a 15% minimum tax on large corporations, but FASB’s mark-to-market rule complicates crypto valuations.
- The push reflects broader regulatory shifts, including Trump’s repeal of Biden-era DeFi reporting rules in April 2025.
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