Senator Cynthia Lummis proposes a radical step: to exempt transactions with Bitcoin and other cryptocurrencies from taxation and to make operations with digital assets tax-neutral. In her logic, the country cannot speak of competition for innovation and capital while simultaneously "penalizing" every cryptocurrency purchase with tax, turning it into an exotic instrument for a circle instead of a regular means of payment. This message continues her previous initiatives — from attempts to relieve the double burden from mining and staking to the idea of a threshold for small payments that should not be taxed and require complex reporting.

Now Lummis is taking the next step and bringing the idea of rebooting the regime to the agenda: from targeted easing to actual neutrality. For the industry, this is a signal that there are politicians in the upper echelons of power ready to fight for the circulation of cryptocurrencies. If such a course is enshrined in law, it could spark competition for crypto business and capital between countries and provide users and companies with a simpler regime for owning and using digital assets without fear of a "tax mine" under each transaction.