First in the Vault: Sen. Cynthia Lummis (R-Wyo.) is introducing a broad set of changes to the taxation of digital assets.
The bill, which you can read here, follows a manic push from crypto advocates earlier this week to cram tax changes into the Senate’s vote-a-rama process. That didn’t happen. But the past is the past!
Lummis’ bill represents long-sought changes to the tax treatment of crypto products. The Wyoming Republican, a top ally of the industry, is treating the bill like a discussion draft, telling us in a statement she would “welcome public comments.” Lummis also says the package is paid-for and would net $600 million in revenue over 10 years.
Here’s what’s inside:
