The US Senate Finance Committee is poised to hold a pivotal hearing on October 1 that could define the future of digital asset taxation in the United States. With testimony expected from major industry players like Coinbase and policy advocates from Coin Center, the session, titled ‘Examining the Taxation of Digital Assets,’ will confront pressing debates over outdated rules and controversial provisions like the corporate alternative minimum tax (CAMT) that critics argue unfairly target crypto companies.
about US Senate Hearing on Crypto Taxation Set for October 1Bernie Moreno
0 posts last weekUS Lawmakers Discuss Strategic Bitcoin Reserve in Roundtables
US lawmakers held multiple roundtable discussions with cryptocurrency industry leaders this week to explore establishing a strategic Bitcoin reserve. The meetings focused on the proposed BITCOIN Act and broader market structure frameworks, with industry advocates emphasizing the need for legislation to secure America’s financial future through Bitcoin reserves.
about US Lawmakers Discuss Strategic Bitcoin Reserve in RoundtablesSherrod Brown Launches 2026 Senate Bid After Crypto-Backed Loss
Sherrod Brown, the former Ohio senator who lost his 2024 reelection bid to crypto-backed Republican Bernie Moreno, has announced a run for the US Senate in 2026. Moreno’s campaign was heavily supported by a digital asset-backed PAC that spent over $40 million on media buys. Brown, a vocal figure on crypto regulation in Congress, secured over 46% of the vote but ultimately lost. He now aims to unseat Republican Senator Jon Husted in the 2026 midterms, while Moreno’s next election isn’t until 2030. The 2024 race was one of Ohio’s most expensive, highlighting the growing influence of crypto in politics.
about Sherrod Brown Launches 2026 Senate Bid After Crypto-Backed LossVA Blockchain Bill Awaits House Vote for Veteran Claims
The ‘Veterans Affairs Distributed Ledger Innovation Act of 2025’ (H.R. 3455), introduced by Rep. Nancy Mace, proposes using blockchain to modernize VA claims systems. The bill mandates a study on whether distributed ledgers can improve transparency, traceability, and fraud resistance in benefits processing. If approved, the VA would explore secure claim logging, false filing detection, and irregularity flagging, consulting experts and agencies already testing the technology. A report to Congress within a year would assess feasibility, risks, and pilot program recommendations. The bill clarifies ‘distributed ledger’ to prevent misuse of terminology. It now awaits a House vote alongside other blockchain-related legislation like the Blockchain Regulatory Certainty Act.
about VA Blockchain Bill Awaits House Vote for Veteran ClaimsSenate Proposes New Crypto Regulatory Framework
Four Republican senators, led by Banking Committee Chairman Tim Scott, introduced a 35-page draft bill to establish a regulatory framework for digital assets. The proposal defines ‘ancillary assets’ to exclude certain cryptocurrencies from SEC securities rules and directs the SEC and CFTC to coordinate oversight. Mirroring provisions of the House-passed CLARITY Act, the bill aims to provide regulatory clarity while fostering U.S. leadership in fintech. However, its Senate prospects remain uncertain amid Democratic concerns over consumer protections. Stakeholders are invited to submit feedback on the draft, which includes enhanced disclosure rules and anti-illegal finance measures.
about Senate Proposes New Crypto Regulatory FrameworkUS Senators Propose New Crypto Regulation Bill for 2025
US Senators Tim Scott, Cynthia Lummis, Bill Hagerty, and Bernie Moreno have unveiled the draft ‘Responsible Financial Innovation Act of 2025,’ building on the recently passed CLARITY Act. The bill aims to strengthen market structure, enhance regulatory clarity, and combat illicit finance in the crypto sector. Key proposals include clear definitions for ancillary assets, tailored disclosure requirements, and exemptions for small-scale token sales under $75 million. The legislation also encourages banking innovation with digital assets and calls for SEC modernization. Public feedback is being sought through a Request for Information covering over 35 topics.
about US Senators Propose New Crypto Regulation Bill for 2025US Senate Subcommittee Hears Digital Asset Market Structure Bill
The US Senate Banking Committee’s subcommittee on digital assets convened a hearing to explore bipartisan legislative frameworks for digital asset market structure, but attendance was notably low, with only five out of 11 senators present. Subcommittee Chair Cynthia Lummis suggested conflicting schedules may have contributed to the absences. Witnesses included former CFTC Chair Rostin Behnam, Coinbase’s Ryan VanGrack, Multicoin Capital’s Greg Xethalis, and Wharton’s Sarah Hammer, who fielded questions on regulatory approaches. The hearing highlighted ongoing legislative efforts to define crypto market rules amid industry growth and regulatory uncertainty.
about US Senate Subcommittee Hears Digital Asset Market Structure BillSenators Challenge Treasury on Crypto Tax Rule
Senators Cynthia Lummis (R-WY) and Bernie Moreno (R-OH) have called on the Treasury to adjust the Corporate Alternative Minimum Tax (CAMT) to exclude unrealized crypto gains, arguing that current rules could force companies to pay taxes on paper profits. The CAMT, part of the 2022 Inflation Reduction Act, imposes a 15% minimum tax on large corporations, but new FASB accounting rules require mark-to-market valuation of crypto holdings, potentially taxing unrealized gains. The senators warn this could disadvantage U.S. firms and drive innovation offshore. Their effort aligns with Trump-era rollbacks of Biden’s crypto regulations, including the recent repeal of a DeFi broker rule.
about Senators Challenge Treasury on Crypto Tax RuleSenators Push Treasury to Ease Crypto Tax Laws for US Firms
Republican Senators Cynthia Lummis (Wyoming) and Bernie Moreno (Ohio) are pressuring the US Treasury to amend crypto tax laws, citing an unfair disadvantage for US companies under the corporate alternative minimum tax (CAMT). The CAMT, introduced via the Inflation Reduction Act, imposes a 15% tax on certain firms, including unrealized gains from digital assets—a rule the senators claim was unintended. Lummis argues this discourages corporations from holding crypto and undermines US competitiveness. The senators propose either reducing the tax burden or excluding unrealized gains from calculations. Their letter to Treasury Secretary Scott Bessent emphasizes the need for regulatory clarity to level the playing field globally.
about Senators Push Treasury to Ease Crypto Tax Laws for US FirmsSenators Urge Treasury to Exempt Unrealized Crypto Gains from Tax
Senators Cynthia Lummis (R-WY) and Bernie Moreno (R-OH) have urged the Treasury to reconsider how the 2022 Corporate Alternative Minimum Tax (CAMT) applies to digital assets, warning that current rules could force U.S. companies to pay taxes on unrealized crypto gains. The CAMT, enacted under the Inflation Reduction Act, imposes a 15% minimum tax on large corporations based on financial statement income. Recent FASB accounting rules require firms to mark digital assets to market value, inadvertently counting unrealized gains as taxable income. The senators argue this creates an unfair disadvantage for U.S. firms compared to foreign competitors and may force asset liquidations. They call for swift Treasury action to prevent this unintended consequence and maintain America’s edge in digital finance.
about Senators Urge Treasury to Exempt Unrealized Crypto Gains from TaxSenators Urge Treasury to Ease Crypto Tax Rules
Senators Cynthia Lummis and Bernie Moreno have urged Treasury Secretary Scott Bessent to adjust the definition of ‘adjusted financial statement income’ under current US tax law, which could lower tax burdens for digital asset firms. The proposed change targets a provision in the 2022 Inflation Reduction Act, arguing that current rules put US companies at a competitive disadvantage. Lummis emphasized the risk to America’s leadership in digital finance if domestic firms face higher taxes than foreign rivals. The senators’ letter highlights regulatory flexibility as a key tool to support the growing crypto sector.
about Senators Urge Treasury to Ease Crypto Tax RulesSingularity Finance CEO Advocates for Crypto Regulation and AI Innovation
Singularity Finance CEO Cloris Chen participated in a U.S. Senate roundtable discussing cryptocurrency regulation and AI innovation, emphasizing the need for clear guidelines to support tokenization of real-world assets. Key senators highlighted the urgency for regulatory clarity, with a stablecoin bill and tax reforms expected soon. Chen warned that without improvements, the U.S. risks lagging in the global shift towards AI-driven finance.
about Singularity Finance CEO Advocates for Crypto Regulation and AI Innovation