Cynthia Lummis

Lummis originally made critical comments of the Biden Administration’s tax on bitcoin miners at Bitcoin Miami, but retweeted an article summing up her views on Thursday

Several crypto bills that never made it out of committee last session are making their second run at becoming law this year

The revised version is going to be more detailed when it comes to defining tokens, Sen. Gillibrand said

Roughly 80% of respondents say crypto regulations should be clearer, including 88% of Democrats and 77% of Republicans

“A well-considered initial framework from renowned regulators will lend credibility to crypto,” LMAX CEO said

As US law currently stands, stakers and miners are required to pay taxes on rewards such as income, regardless of if the tokens were sold or traded

The bill specifies that DAOs are by default classified as a business entity, meaning that these community-led groups can expect to pay up on tax day

The wide-ranging bill addresses stablecoins, DAOs, and requirements for digital asset exchanges

Senators Lummis and Gillibrand are out to prove bipartisan digital asset policy is still possible in Washington

The White House comes out in support of the original provision which requires digital asset brokers to disclose investors’ gains earned from cryptocurrency. Senate to vote as early as Saturday, August 7.

Jason and Senator Lummis talk bout the proposed infrastructure bill and the impact it could have on bitcoin and innovation at-large.