Trump’s “big beautiful bill” passes the Senate without Bitcoin tax exemption

The US Senate passed President Donald Trump’s massive settlement bill on Tuesday, but failed to include a significant tax system in laws that would benefit crypto users.

In the busy final hours of intense negotiations on the President’s “one big beautiful bill,” Crypto’s senators and industry policy leaders competed to amend the bill, which includes numerous tax benefits for cryptostakers and miners, businesses that own crypto stockpiles, and users of Reterre digital assets.

But in the end, the watch was gone. The crypto tax provision led by Sen. Cynthia Ramis (R-WY) was considered ready for Showtime only on weekends, and was previously a source of information. I said Decryption.

That timing led to a surge in activity on Monday, with Ramis pledging to raise relevant amendments during the marathon voting on the “big beautiful bill” before it passed, and crypto policy leaders urged Americans to call the senators to get relief packages on the Senators’ floor.

But by the time Vice President JD Vance voted for a tiebreak to pass the megaville at noon Tuesday, Ramis and his Republican colleagues were still unable to include code in the deliberations.

One crypto policy leader lamented the results as an “missed opportunity” for the industry.

“We just ran out of time,” they said. Decryption.

Senator Ramis spokesman provides a more variean outlook; Decryption The issues with the crypto amendment lie on the radar of top Republicans, including Mike Krapo (R-ID), the chairman of the Senate Finance Committee.

“Senator Ramis has been having productive conversations with Chairman Crapo and other members of the Senate Finance Committee over the past few weeks and looks forward to continuing his work with other committees at a later date to fix these important tax issues,” the spokesman said.

It is not clear which elements of Ramisu’s crypto tax provisions ultimately became the amendment to the “big and beautiful bill.” Crypto policy experts speculated that the rewards Crypto has acquired and obtained from mining include measures to clarify that it should only be taxed after it has been sold, not at that generational moment.

Another measure likely included in the amendment is known as market-to-market accounting clauses, which gave companies more flexibility in reporting unrealized crypto profits as a way to boost their balance sheets.

And the third measure (probably the most popular among retail crypto users) would provide minimal tax exemptions for crypto transactions under certain thresholds. The exemption allowed Americans to report crypto transactions that are less than a few hundred dollars if taxed for capital gains purposes, and many in the industry saw it as a way to make daily routine payments as a way to adopt crypto.

Edited by Andrew Hayward