Lummis Says Senate Moving on Crypto Tax Reform Amid Growing Pressure

Senator Cynthia Lummis says the Senate Finance Committee is making headway toward a new framework for taxing digital assets, signaling that lawmakers are preparing to modernize crypto tax rules. She noted that the current draft incorporates ten provisions, nine of which mirror ideas she has long championed, suggesting her influence remains strong in shaping the bill.

Among her past proposals is a de minimis threshold, exempting small gains under a set limit from tax reporting burdens, and clarity that crypto lending should not itself be a taxable event. The legislation is emerging with bipartisan interest, and Lummis specifically named Senator Ron Wyden as a key ally in refining the proposals ahead of a Senate hearing.

As the Senate gears up for more hearings on digital asset taxation, this renewed push could offer long-awaited clarity for crypto holders, DeFi platforms, and investors—reducing ambiguity, paperwork, and risk across the industry.