US lawmakers consider a $300 de minimis exemption for Bitcoin transactions as part of broader crypto tax policy discussions.
The House Ways and Means Committee and Senate Finance Committee are evaluating a $300 exemption for Bitcoin transactions to simplify capital gains tax reporting. The proposal stems from a draft bill introduced by Wyoming Senator Cynthia Lummis in July 2025 and requires bipartisan support to advance.
Lawmakers remain divided, with the Senate prioritizing a budget reconciliation bill over digital asset legislation like the CLARITY Act. Meanwhile, Illinois approved a $56 billion state budget including a 0.2% tax on crypto transactions through registered brokers, pending the governor’s signature.
Market reaction to the proposals has been muted, as investors await clarity on broader regulatory frameworks before adjusting positions.