On June 30, 2025, the U.S. Senate approved a $1 trillion spending bill, "One Big Beautiful Bill," with a tie-breaking vote from Vice President J.D. Vance.
This bill, however, did not include Senator Cynthia Lummis' amendment for clearer cryptocurrency taxation.
The digital assets industry's lobbying efforts were unsuccessful in this instance. (Source: Time.com, Axios.com, Reuters.com)
The bill encompasses various policy initiatives, including tax relief and military rebuilding.
Treasury Secretary Scott Bessent urged the House to act quickly on the Senate's version.
The exclusion of the crypto tax amendment is expected to spark debate in the House. (Source: Time.com, Axios.com, Reuters.com)
President Trump signed an executive order on March 6, 2025, establishing a Strategic Bitcoin Reserve.
This aims to position the U.S. as a leader in the digital asset market.
The crypto community continues to advocate for favorable regulatory frameworks. (Source: Time.com, Axios.com, Reuters.com)