Senate Passes Trump's Budget, Skips Crypto Tax Reform

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The U.S. Senate has narrowly passed a budget reconciliation bill championed by President Donald Trump. Despite intense debate and numerous proposed amendments, the final legislation notably omitted provisions related to cryptocurrency taxation, specifically addressing concerns raised by Senator Cynthia Lummis regarding the tax treatment of crypto miners and stakers. This outcome signals a continued, albeit delayed, legislative path for digital asset regulation.

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