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Bitcoin Magazine
The One Big Beautiful Act Passes in the U.S. Senate — Without Bitcoin Tax Amendment
Today, the One Big Beautiful Act handed in the U.S. Senate with a 51-50 vote, the last vote having been solid by Vice President Vance.
JUST IN: Vice President JD Vance breaks tie to cross President Trump's "Big Beautiful Bill" pic.twitter.com/u3GhRXsg4z— Bitcoin Magazine (@BitcoinMagazine) July 1, 2025
After a marathon modification session, the invoice handed with out any Bitcoin- or crypto-related amendments included in it.
Senator Cynthia Lummis (R-WY) pushed for a vote on an modification to the invoice that would have offered for a de minimus capital beneficial properties exemption on crypto transactions of $300 or less, with a $5,000 yearly cap.
The senator urged Bitcoin and crypto fans to name their senators to let them know that this subject was vital to them.
Call your Senators. Let ‘em know this issues to you! https://t.co/aQsSiOxLZs— Cynthia Lummis (@CynthiaMLummis) June 30, 2025
Leaders in the Bitcoin and crypto business also spoke up about the significance of this modification being added to the invoice.
BTC Inc. Chairman David Bailey shared on X that “the de minimus transaction exemption is the #1 request from the grassroots bitcoin and crypto community and anyone who stands against it is directly screwing over the 50m Americans that own bitcoin and crypto.”
Gemini co-founder Tyler Winklevoss acknowledged on X that “Passing the de minus transaction exemption for bitcoin and crypto transactions <$300 is crucial to making America the bitcoin and crypto capital of the world.
But alas, Senate Finance Committee Chairman Mike Crapo (R-ID) did not facilitate a vote on the modification.
Senator Lummis has acknowledged that the proposed modification was not voted on and stated that she plans to proceed working with Senator Crapo to cross a legislation addressing crypto tax remedy.
The senator’s workplace share the following assertion with Bitcoin Magazine:
“Senator Lummis had productive conversations with Chairman Crapo and other Senate Finance Committee members over the last few weeks, and looks forward to continuing her work with the Chairman and the rest of the committee to fix these important tax issues at a later date.”
Senator Lummis did not remark further on when that later date might be.
This put up The One Big Beautiful Act Passes in the U.S. Senate — Without Bitcoin Tax Amendment first appeared on Bitcoin Magazine and is written by Frank Corva.
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