Despite a push from Senator Cynthia Lummis (R-WY), an amendment regarding de minimus capital gains exemption on crypto spending was not included in the version of the One Big Beautiful Act that passed in the Senate.
Members of the crypto industry and digital asset specialists argue that if the U.S. doesn’t pass legislation on digital asset market structure soon, it might cede authority to legal regimes from other countries.
Three senators chastised Fidelity for offering a bitcoin 401(k) option claiming it is too volatile and untested to be used as a retirement savings tool.
Wyoming’s Cynthia Lummis is the most outspoken Bitcoin advocate ever elected to the Senate and she’s on a mission to ensure that the technology is protected.
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