Senator Lummis Urges US to Eliminate Crypto Taxes

Source: Coinomedia Original Title: Senator Lummis Urges US to Eliminate Crypto Taxes Original Link: https://coinomedia.com/us-crypto-tax-elimination/ US Senator Cynthia Lummis is making waves in the digital finance world with a bold proposal: eliminate taxes on Bitcoin and other cryptocurrencies. Her recent comments reflect a growing sentiment among some lawmakers who believe the United States must change its approach to digital assets to remain competitive on the global stage.

Lummis, a long-time supporter of Bitcoin, argues that removing tax barriers will not only encourage innovation but also protect individual financial freedom. She believes that cryptocurrency represents a form of economic empowerment and that government overreach through taxation could stifle its potential.

Why Tax-Free Crypto Could Matter

The US currently treats cryptocurrencies like property, meaning every transaction—even small ones—can trigger a taxable event. Critics, including Lummis, say this outdated model places an unnecessary burden on users and innovators alike.

By advocating for zero taxes on crypto, Lummis aims to simplify digital asset usage in everyday life. This could open the door to widespread adoption, helping the US keep pace with countries that are already embracing crypto-friendly policies.

Eliminating taxes could also reduce regulatory confusion and encourage companies to stay in the US rather than moving offshore. This aligns with Lummis’ broader vision of making America a leader in the digital economy.

What’s Next for Crypto Policy?

While Lummis’ proposal is bold, it’s still in its early stages. Any significant policy change would require bipartisan support and a shift in how lawmakers view cryptocurrency. Still, her call adds to the growing debate about the future of crypto regulation in the US.

Her stance also sends a strong message: the US must act swiftly if it wants to lead in the next era of financial innovation. With global crypto adoption on the rise, proposals like Lummis’ may gain more traction in the near future.