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As Republicans rush to pass President Donald Trump’s “One Big Beautiful Bill” budget plan, a timely initiative is emerging in Congress that puts cryptocurrency in the spotlight once more.

Lawmakers are seeking to attach amendments aimed at providing significant advantages for cryptocurrency investors, contributing to the ongoing shift in the regulatory landscape for digital assets in the country.

Fair Tax Treatment For Crypto Miners And Stakers

On Monday, Senator Cynthia Lummis, an advocate for the adoption of digital assets, took to social media platform X (formerly Twitter), to voice her concerns about the current tax treatment faced by crypto miners and stakers. 

The Senator highlighted that these individuals are taxed twice: once when they receive block rewards and again upon selling their assets. “It’s time to stop this unfair tax treatment and ensure America is the world’s Bitcoin and Crypto Superpower,” Lummis stated.

This sentiment resonates with President Trump, who has consistently supported the integration of digital assets into the country’s financial system. His administration has proposed the establishment of the nation’s first crypto strategic reserve, which would include Bitcoin (BTC) and other tokens as part of its framework.

Fox journalist Eleanor Terret also reported on X that discussions around crypto tax amendments remain alive, despite some disagreements that arose over the weekend. 

Congressional Divisions Toward Digital Assets

Terret indicated that the White House is advocating for the inclusion of Lummis’s proposed changes in the final version of the bill, demonstrating a concerted effort to galvanize support for the cryptocurrency sector.

In contrast to Lummis’s approach, Senator Jeff Merkley introduced an amendment aimed at barring elected officials from promoting or profiting from crypto tokens in which they have a financial interest. 

Merkley argued that allowing such practices undermines the integrity of governance. “The sale of crypto coins by any of us for financial benefit is corrupting our responsibility to govern by and for the people,” he asserted.

Lummis opposed Merkley’s amendment, warning that it could stifle American innovation and hinder the government’s ability to effectively understand and regulate digital assets. 

In a pointed remark in Congress on Monday, the pro-crypto Senator noted, “If we’re serious about ethics and financial products, let’s focus on real solutions and all financial products, not just digital.”

Ultimately, Merkley’s amendment was defeated, failing to pass with a vote of 47 to 53, reflecting the ongoing tensions in Congress regarding the regulation of digital assets, as well as the divisions among lawmakers regarding this emerging technology.

As of press time, Bitcoin trades at $107,187, up 2% on the weekly time frame. Despite the short-term recovery for the market’s leading crypto, BTC still trades 4% below its record price of $111,800.  

Featured image from DALL-E, chart from TradingView.com 

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Hong Kong-based Animoca Brands is preparing for a listing in New York, citing US President Donald Trump’s relaxed regulatory stance on digital assets as a window of opportunity to enter the world’s biggest capital market.

Animoca executive chair Yat Siu told the Financial Times that an announcement may be made soon, with the company currently evaluating various shareholding structures.

Siu said the decision to pursue a US listing would not hinge on market conditions but rather on timing and strategic positioning.

Animoca, which was delisted from the Australian Securities Exchange in 2020 over governance concerns and the status of some cryptocurrencies, has since built a robust investment portfolio, including stakes in OpenSea, Kraken and Consensys.

The company reported unaudited earnings of $97 million from $314 million in revenue for the year ending December 2024, a sharp increase from the previous year.

Siu told the FT that Animoca is the largest non-financial crypto firm globally, with $300 million in cash and stablecoins and over $538 million in digital assets.

He also hinted that other Animoca portfolio companies, including US-based Kraken, may follow suit with listings in the US in 2025 or 2026.

Related: Deribit eyes US expansion under crypto-friendly Trump admin: FT

Crypto firms consider US comeback

Under former President Joe Biden, federal agencies launched numerous lawsuits and enforcement actions against digital asset firms. Siu said this regulatory hostility stifled innovation and discouraged overseas companies from entering the US market.

In contrast, Trump’s return to office has been accompanied by pledges to support the crypto sector and a rollback of enforcement activity. Siu described this as “a unique moment in time,” adding that not taking advantage of it “would be one heck of a wasted opportunity.”

Since Trump’s election victory, the US Securities and Exchange Commission has dropped or paused over a dozen enforcement cases against crypto companies.

Additionally, the Department of Justice recently announced the dissolution of its cryptocurrency enforcement unit, signaling a softer approach to the sector.

This hands-on approach appears to be boosting industry confidence. OKX, for example, has announced plans to establish a US headquarters in San Jose, California, just months after settling a $504 million case with US authorities.

On April 28, Nexo, which left the US at the end of 2022, citing a lack of regulatory clarity, revealed that it is reentering the US market.

Magazine: Bitcoin eyes ‘crazy numbers,’ JD Vance set for Bitcoin talk: Hodler’s Digest, May 4 – 10

This might come as a surprise, considering a city in the Balkans has beaten out tech giants like Zurich and Hong Kong. However, a report by the South China Morning Post has stated that Ljubljana’s rise is likely the result of years spent building a strong digital economy rooted in decentralized finance and blockchain technology.

Although Slovenia’s capital is known for its hundreds of crypto-accepting businesses, this isn’t what sets Ljubljana apart from other crypto-friendly cities like Zurich, Hong Kong, Abu Dhabi, and Singapore. Based on the report, cities were evaluated on tax policies, wealth concentration, regulation, and digital infrastructure.

Besides this, the city is also credited for its sense of normalcy around digital assets. For example, using crypto to pay for a coffee or a hotel stay feels no different than tapping a debit card.

For anyone managing serious amounts of digital assets in crypto-friendly cities like Ljubljana, finding a reliable and secure wallet for decentralized finance has become just as important as having a good bank. Well-designed wallets offer full self-custody, layered security measures, and crypto insurance, which helps reinforce that confidence and keep the decentralized economy moving safely.

Beyond its retail scene, Slovenia is quietly making waves in wealth statistics, too. The average Slovenian crypto holder now manages around $240,500 in digital assets. Countries like Cyprus and Hong Kong fall behind with holdings averaging $175,000 for Cyprus and $97,500 for Hong Kong. These figures aren’t just numbers; they represent a wider culture that sees digital currencies not as risky bets, but as integral parts of daily life and future planning.

Nirbhay Handa, CEO of Multipolitan, captured the spirit of the moment when he explained that people are increasingly choosing where to live based on freedoms and financial opportunities, rather than the place they happened to be born. Ljubljana seems to be benefiting from this shift, becoming a magnet for those who want a digital-forward lifestyle without giving up community or quality of life.

Other places are catching on, of course. The United Arab Emirates, for instance, continues to draw crypto investors with perks like Dubai’s decade-long Golden Visa, granted in return for a significant investment of $544,000. Although a hefty sum, it has gained significant attention from cryptocurrency investors.

This is one place Ljubljana hasn’t invested much thought into. The reason? Ljubljana’s strength seems to lie not in flashy incentives, but in how seamlessly crypto has woven itself into the fabric of everyday life.

With clear regulations, a vast network of businesses, a growing digital-savvy population, and a healthy decentralized economy, Ljubljana isn’t just riding a trend. It’s building something sustainable.

And while doing so, Slovenia is maintaining its dominance in the cryptocurrency space and reinforcing its reputation as a forward-thinking city that’s continuously embracing digital transformation. Its example could end up shaping how other cities think about integrating decentralized finance in the years ahead. Nonetheless, it’s clear that Slovenia will remain a key player in the future of decentralized finance.

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Newly-confirmed United States Securities and Exchange Commission (SEC) Chair Paul Atkins is poised to begin his tenure at his new role this week, a Monday report from Crypto in America claims.

SEC Chair Paul Atkins May Start This Week

According to the April 21 newsletter, two sources familiar with the matter told the novel media that U.S. President Donald Trump’s pick to lead the federal regulator will officially be “sworn in” to his position sometime this week.

Atkins, who was confirmed by the U.S. Senate on April 9, has yet to officially begin leading the regulatory agency, largely believed to be due to scheduling and procedural causes.

“We welcome Paul Atkins as the next Chairman of the SEC,” the commission said in a statement earlier this month following his confirmation.

“A veteran of our Commission, we look forward to him joining with us, along with our dedicated staff, to fulfill our mission on behalf of the investing public,” the organization added.

Trump’s Regulatory Overhaul Begins

Atkins is largely seen as a crypto-friendly choice to spearhead the SEC, with recents reports indicating that he owns between between $1 million and $6 million in digital assets.

The selection of Atkins, who previously served at the federal regulator under former U.S. President George W. Bush, coincides with Trump’s plan to overhaul prior regulations at several key government agencies.

The SEC has long garnered flack by members of the cryptocurrency community for its regulation-by-enforcement approach to the blockchain sector under the leadership of former SEC Chair Gary Gensler.

However, the agency has changed its tune in recent months, dropping several highly-publicized lawsuits against key players in the crypto industry including Coinbase, Kraken, and more. Atkins’ upcoming tenure may only serve to embolden the agency to lessen its grip on the crypto sector.

The post Crypto‑Friendly Paul Atkins to Take SEC Helm This Week, Industry Braces for Shake‑Up appeared first on Cryptonews.