Gate News reports that on March 10, Wyoming Senator Cynthia Lummis, who is set to leave office in January 2027, reintroduced a proposal to exempt small cryptocurrency transactions from taxes during a discussion on the Digital Asset Market Structure Bill in the Senate. Lummis told CNBC that the House Ways and Means Committee and the Senate Finance Committee are considering establishing a $300 tax-free threshold, allowing users to pay without capital gains taxes. In July 2025, Lummis proposed a standalone bill suggesting that crypto transactions under $300 be exempt from capital gains tax, with an annual limit of $5,000. She said she is seeking a balanced approach to determine when Bitcoin transactions should be taxed for capital gains and when they should be used as simple exchange methods like dollars. Lummis noted that her Democratic colleagues have yet to vote in favor of the Crypto Market Structure Bill.
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