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US Senator Cynthia Lummis has proposed a draft bill to ease crypto taxation, aiming to foster DeFi adoption. The bill seeks to exempt certain transactions and defer taxes on mining and staking rewards until tokens are sold.
- Senator Lummis proposes tax exemptions for certain crypto transactions and defers taxes on mining/staking rewards.
- The bill aims to prevent inadvertent tax violations and boost participation in the digital economy.
- This follows the GENIUS Act's passage, indicating increasing US regulatory clarity for crypto.
📎 Related coverage from: cointelegraph.com