Senator Lummis proposes ending double taxation for bitcoin miners and stakers in US

US Senator Cynthia Lummis, with White House support, has introduced legislation aimed at ending double taxation for bitcoin miners and stakers in the US. She argues that the current system unfairly treats crypto businesses compared to traditional ones, stifles liquidity and pushes companies to relocate abroad, according to CoinMarketCap.

Right now, mining and staking rewards are taxed twice—first when the income is received, and again if sold at a profit. The Lummis proposal, as explained by CoinoMedia analysts, would eliminate the first stage and exempt transactions under $300 from any taxes.

According to the official, these changes will simplify the tax process, reduce bureaucratic burdens, and bring US regulations closer to international standards, strengthening the country’s position in the global crypto industry. The White House has backed the initiative, acknowledging the need for clearer crypto asset regulations.