Crypto Tax Break Provisions Excluded from Trump’s “Beautiful Law Act”

According to a report by Jinse Finance, on Tuesday local time, the U.S. Senate narrowly passed President Donald Trump’s “Beautiful Act.” However, to the disappointment of crypto industry leaders, the bill failed to include the key tax amendment for crypto users that they had previously advocated for. In the final hours of intense negotiations before the bill’s passage, pro-crypto senators led by Cynthia Lummis (Republican, Wyoming) and industry policy leaders made efforts to attach an amendment containing several crypto-related tax incentives to the bill. These incentives would have benefited crypto miners, stakers, enterprises holding large amounts of cryptocurrency, and ordinary digital asset users. Ultimately, time ran out and the amendment was not brought to the Senate for consideration. A crypto policy leader described the outcome as a “missed opportunity,” stating that they “simply ran out of time.”