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RE: LeoThread 2025-07-03 14:26

in LeoFinance3 months ago

“In order to maintain our competitive edge, we must change our tax code to embrace our digital economy, not burden digital asset users,” said Lummis. “This groundbreaking legislation is fully paid-for, cuts through the bureaucratic red tape and establishes common-sense rules that reflect how digital technologies function in the real world. We cannot allow our archaic tax policies to stifle American innovation, and my legislation ensures Americans can participate in the digital economy without inadvertent tax violations.”

The proposal introduces a de minimis exemption that would exclude small digital asset gains or losses from taxation, with a limit of $300 per transaction and $5,000 annually, and an inflation adjustment beginning in 2026.