Political resistance & broader risks

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Senator Cynthia Lummis’s crypto tax amendment to the Senate reconciliation bill faced resistance from anti-crypto lawmakers and was deprioritised amid competing political agendas and a crowded amendment process

The Senate’s reconciliation bill saw a flurry of last-minute amendments from both pro- and anti-crypto lawmakers, creating uncertainty over its final provisions and raising concerns that miners could be harmed by anti-crypto or anti-renewable language

President Donald Trump pressured Republicans to pass the reconciliation bill quickly, leaving little room to consider the crypto provision

Crypto advocates described the exclusion of the crypto tax amendment from the Senate’s reconciliation bill as a missed opportunity for the industry, while Senator Lummis’s team expressed optimism about continuing reform efforts with the Senate Finance Committee

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