Senator Ramis is pushing for crackdown on the code tax on the GOP bill

Table of Contents

Senator Cynthia Ramis is pushing for the GOP’s 2025 spending bill to include major crypto tax reforms.

The proposal applies the Wash Sale Rules to crypto, exempting Bitcoin Miners from reporting profits.

Reforms face mixed reactions as Senate Republicans negotiate with President Trump on a broader bill.

Sen. Cynthia Ramis (R-WYO.) is taking a strong move to reshape the way the US encrypts by pushing the inclusion of key digital asset clauses in Senate Republican tax laws.

Longtime Bitcoin supporter Ramis has worked with Senate Speaker Mike Krapo (R-Idaho) to fold some of the bipartisan cryptocurrency legislation he co-authored with Sen. Kirsten Gillibrand (DN.Y.). Her proposal aims to close tax loopholes and support the crypto industry, but not everyone is on the same page.

Crypto wash sales rules could raise billions

One of Lumis’ main suggestions is to apply Laundry sales rules In code. This prevents investors from selling digital assets at a loss and selling them, and prevents them from buying them quickly to reduce taxes.

Lummis told Semafor “This bill is a good place to amend crypto taxation,” but skeptics, including Gillibrand, called it “immature” and quickly cited the risks of the policy.

Bitcoin Miner may take a break

Another part of Lummis’ plan exempts Bitcoin miners from reporting capital gains and losses. This eases the reporting burden for miners who often face disruptive tax requirements despite playing a major role in crypto ecosystems.

The proposal reflects Lumis’ continued support for the industry, but is expected to face resistance in the split Senate.

Trump places emphasis on the GOP tax bill

On Wednesday, members of the Senate Finance Committee, including Sen. Bill Cassidy (R-La.), met with President Donald Trump at the White House to discuss the bill.

According to Cassidy, Trump focuses on including “work account profits,” adding complexity to the ongoing negotiations.

A critical moment for crypto policy

With the 2025 tax cuts set to expire soon, Lummis’ proposal will help set the direction for how digital assets are taxed and regulated in the future. If adopted, they can provide clarity to the crypto market while simultaneously boosting federal revenue.

But even among allies, the path for these reforms remains uncertain.