- Buy Crypto
- Markets
Futures- Spot
- Copy Trade
- Earn
- More
Lummis, Moreno Eye Unrealized Gains Tax Reform
By: cryptosheadlines|2025/05/15 00:45:05
0
Share
Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Senators Lummis and Moreno have proposed crypto tax relief in the US.The Senators requested that crypto firms pay tax only on realized gains.Crypto tax relief in the US would significantly boost cryptocurrency adoption.Famous US pro-crypto Senator Cynthia Lummis, alongside her colleague Senator Bernie Moreno, has asked the US government to review its cryptocurrency tax regime. In her latest proposal, made public on May 12, Lummis and Moreno, suggested a new rule to relieve US companies from what they term an unfair crypto tax burden, specifically by changing how unrealized gains on digital assets are treated.Our edge in digital finance is at risk if U.S. companies are taxed more than foreign competitors. @berniemoreno & I urged the @USTreasury to lift an unintended tax burden on U.S. digital asset companies. To lead the world in digital assets, we need a level playing field. pic.twitter.com/V7pwAUqRc4— Senator Cynthia Lummis (@SenLummis) May 13, 2025Lummis and Moreno proposed a new rule requiring crypto firms to pay taxes only on realized gains, targeting the Corporate Alternative Minimum Tax (CAMT). The CAMT is a relatively new rule enacted in 2022 as part of the Inflation Reduction Act. The Act requires corporations whose revenue exceeds $1 billion annually to pay at least 15% in taxes. The Lummis-Moreno crypto tax proposal argues that applying this to unrealized crypto gains harms US crypto firms.Lummis Calls Current Crypto Tax Structure “Unintended,” Cites Fair CompetitionIn the meantime, Lummis shared a copy of the proposal on social media, highlighting the potential risk of having US companies taxed more than foreign competitors on digital finance. The Senator described the running tax structure on digital asset companies as unintended, citing the need for fair competition if the US wants to lead the world in digital assets.Crypto analysts think getting the US government to accept Senator Lummis’ latest proposal would be massive for the crypto industry. One such analyst commented about this in a podcast, noting that achieving this through an executive order or a legislative bill would significantly boost cryptocurrency adoption.Related: No Crypto Tax? White House ‘Czar’ Shoots Down Transaction FeeThe analyst cited the possibility of getting the proposal passed, considering that the US government has given tax breaks to specific industries. Hence, crypto users have the right to be optimistic and expect a reform in the government’s tax requirements for cryptocurrency companies, significantly increasing the crypto market’s bullish momentum.Proposal Aims to Counter “Unfair” FASB Digital Asset Accounting RuleMeanwhile, Lummis and Moreno aim to use the latest proposal to counter a new rule they consider unfair to the crypto sector. Related: US Congress Targets Crypto Bill by 2025: Pro-Crypto Senator Cynthia Lummis Drives Senate AgendaThe Financial Accounting Standards Board (FASB) now requires companies to mark digital assets at fair market value on their financial statements. This FASB rule, the Senators deemed as unfair when applied under CAMT. They have now urged the US Treasury to use its authority to revise this fair market value accounting interaction according to their proposal for unrealized gains.Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.Source link
You may also like
2025 South Korea CEX Listing Post-Mortem: Investing in New Coins = 70% Loss?
The 2025 South Korean exchange's new token listing performance is structurally similar to Binance's, with no significant differences.
BIP-360 Analysis: Bitcoin's First Step Towards Quantum Immunity, But Why Only the "First Step"?
This article explains how BIP-360 reshapes Bitcoin's quantum defense strategy, analyzes its enhancements, and discusses why it has not yet achieved full post-quantum security.
50 million USDT exchanged for 35,000 USD AAVE: How did the disaster happen? Who should we blame?
Due to a fatal flaw in the transaction path, a $50 million DeFi operation was executed with almost zero protection, resulting in nearly the entire amount of funds evaporating in a tiny liquidity pool.
The Cryptographic Past of the Middle East
Reality is often more exciting than fiction.
Resolving the Intergenerational Prisoner's Dilemma: The Inevitable Path of Nomadic Capital Bitcoin
When the baby boomer generation collectively sells off, who will become the "greater fool" in the next round of asset crashes?
Who Will Control AI? Why Decentralized AI May Be the Only Alternative to Government and Big Tech
AI has become critical infrastructure, and governments and corporations are competing to control it. Centralized development and regulation are entrenching existing power structures. The Web3 community is building a decentralized alternative — distributed compute, token incentives, and community governance — before that window closes.
Vitalik wrote a proposal teaching you how to secretly use AI large models
Vitalik believes that in the AI era, users should not have to give up their identity to use an AI tool.
On the eve of the explosion of on-chain options
Options are becoming a new anchor in the cryptocurrency market.
WEEX AI Hackathon: How Did This AI Trading Winner Succeed?
A self-taught AI trading enthusiast achieved top-10 results at the WEEX AI Hackathon. Learn about the mindset, AI tools, and lessons behind this impressive performance.
One Balance to Rule Them All: Gravitas' On-Chain Prime Broker Ambition
Forty years ago, a technological revolution broke the isolation of information, reshaping Wall Street. Forty years later, Grvt aims to break the isolation of capital with an on-chain prime brokerage model.
That person who cashed out at the NFT peak is now selling a new shovel in the OpenClaw craze
A skilled person never picks the table, they eat meat with every bite.
Inter-generational Prisoner's Dilemma Resolution: The Nomadic Capital and Bitcoin's Inevitable Path
When the Baby Boomer generation collectively sells off, who will be the "bag holder" in the next asset crash?
Upstream and downstream are starting to fight, all for the sake of everyone being able to "Lobster"
「Lobster」 may not be a mature product yet, but it has already ushered in a new era of 「AI Assistants」.
Circle and Mastercard Announce Partnership, the Next Stage for the Crypto Industry Belongs to Payments
Stablecoins are transitioning from a speculative tool to real financial scenarios such as payments, cross-border transfers, and store of value.
From 5 Mao per kWh of Chinese electricity to a $45 API export: Tokens are rewriting currency units
When the same unit can both measure hashing power and facilitate payments, it ceases to be just a term and begins to evolve into a new currency of both value and influence.
Why is OpenAI playing catch-up to Claude Code instead?
Anthropic Bets Earlier on AI Programming, OpenAI Strategic Tempo Misaligned
Vitalik wrote a proposal teaching you how to secretly use AI large models
Vitalik believes that in the AI era, users should not have to sacrifice their identity to use an AI tool.
The doubling of Circle's stock price and the paradigm shift of stablecoins
The initial investments from Circle and Stripe, whether it is the R&D expenses for Arc, the high financing costs associated with Tempo, or the billion-dollar acquisitions of Bridge-type assets, are more akin to "placement fees" rather than commercially recoverable investments in the short term.
2025 South Korea CEX Listing Post-Mortem: Investing in New Coins = 70% Loss?
The 2025 South Korean exchange's new token listing performance is structurally similar to Binance's, with no significant differences.
BIP-360 Analysis: Bitcoin's First Step Towards Quantum Immunity, But Why Only the "First Step"?
This article explains how BIP-360 reshapes Bitcoin's quantum defense strategy, analyzes its enhancements, and discusses why it has not yet achieved full post-quantum security.
50 million USDT exchanged for 35,000 USD AAVE: How did the disaster happen? Who should we blame?
Due to a fatal flaw in the transaction path, a $50 million DeFi operation was executed with almost zero protection, resulting in nearly the entire amount of funds evaporating in a tiny liquidity pool.
The Cryptographic Past of the Middle East
Reality is often more exciting than fiction.
Resolving the Intergenerational Prisoner's Dilemma: The Inevitable Path of Nomadic Capital Bitcoin
When the baby boomer generation collectively sells off, who will become the "greater fool" in the next round of asset crashes?
Who Will Control AI? Why Decentralized AI May Be the Only Alternative to Government and Big Tech
AI has become critical infrastructure, and governments and corporations are competing to control it. Centralized development and regulation are entrenching existing power structures. The Web3 community is building a decentralized alternative — distributed compute, token incentives, and community governance — before that window closes.
App