U.S. Senator Cynthia Lummis has introduced new legislation aimed at reforming the taxation of Bitcoin and other cryptocurrencies. The bill proposes to exempt cryptocurrency transactions under $300 from capital gains taxes, effectively allowing Americans to use Bitcoin and digital assets for small payments without fear of tax violations. In addition to the $300 de minimis exemption, the legislation seeks to end double taxation on mining and staking activities. It also aims to align the tax treatment of digital assets with that of traditional finance, including fair treatment for lending and donations involving cryptocurrencies. Senator Lummis had initially planned to include this amendment in the Build Back Better (BBB) framework but has now introduced it as a standalone bill. The proposed changes are intended to normalize digital asset taxation and reduce tax burdens on everyday crypto transactions.