{"id":34630,"date":"2025-07-01T16:33:38","date_gmt":"2025-07-01T16:33:38","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=34630"},"modified":"2025-07-01T16:33:38","modified_gmt":"2025-07-01T16:33:38","slug":"senate-republicans-push-for-crypto-friendly-amendments-amid-budget-bill-discussions","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=34630","title":{"rendered":"Senate Republicans Push For Crypto-Friendly Amendments Amid Budget Bill Discussions"},"content":{"rendered":"
\n

As Republicans rush to pass President Donald Trump\u2019s \u201cOne Big Beautiful Bill\u201d budget plan, a timely initiative is emerging in Congress that puts cryptocurrency in the spotlight once more.<\/p>\n

Lawmakers are seeking to attach amendments aimed at providing significant advantages for cryptocurrency investors, contributing to the ongoing shift in the regulatory landscape for digital assets in the country.<\/p>\n

Fair Tax Treatment For Crypto Miners And Stakers<\/h2>\n

On Monday, Senator Cynthia Lummis, an advocate for the adoption of digital assets, took to social media platform X (formerly Twitter), to voice her concerns about the current tax treatment faced by crypto miners and stakers.\u00a0<\/p>\n

The Senator highlighted <\/a>that these individuals are taxed twice: once when they receive block rewards and again upon selling their assets. \u201cIt\u2019s time to stop this unfair tax treatment and ensure America is the world\u2019s Bitcoin and Crypto Superpower,\u201d Lummis stated.<\/p>\n

This sentiment resonates with President Trump, who has consistently supported the integration of digital assets into the country\u2019s financial system. His administration has proposed the establishment of the nation\u2019s first crypto strategic reserve, which would include Bitcoin (BTC) and other tokens as part of its framework.<\/p>\n

Fox journalist Eleanor Terret also reported <\/a>on X that discussions around crypto tax amendments remain alive, despite some disagreements that arose over the weekend.\u00a0<\/p>\n

Congressional Divisions Toward Digital Assets<\/h2>\n

Terret indicated that the White House is advocating for the inclusion of Lummis\u2019s proposed changes in the final version of the bill, demonstrating a concerted effort to galvanize support for the cryptocurrency sector.<\/p>\n

In contrast to Lummis\u2019s approach, Senator Jeff Merkley introduced <\/a>an amendment aimed at barring elected officials from promoting or profiting from crypto tokens in which they have a financial interest.\u00a0<\/p>\n

Merkley argued that allowing such practices undermines the integrity of governance. \u201cThe sale of crypto coins by any of us for financial benefit is corrupting our responsibility to govern by and for the people,\u201d he asserted.<\/p>\n

Lummis opposed Merkley\u2019s amendment, warning that it could stifle American innovation and hinder the government\u2019s ability to effectively understand and regulate digital assets<\/a>.\u00a0<\/p>\n

In a pointed remark in Congress on Monday, the pro-crypto Senator noted, \u201cIf we\u2019re serious about ethics and financial products, let\u2019s focus on real solutions and all financial products, not just digital.\u201d<\/p>\n

Ultimately, Merkley\u2019s amendment was defeated<\/a>, failing to pass with a vote of 47 to 53, reflecting the ongoing tensions in Congress regarding the regulation of digital assets, as well as the divisions among lawmakers regarding this emerging technology.<\/p>\n

\"Crypto\"<\/p>\n

As of press time, Bitcoin trades at $107,187, up 2% on the weekly time frame. Despite the short-term recovery for the market\u2019s leading crypto, BTC still trades 4% below its record price of $111,800.\u00a0\u00a0<\/p>\n

Featured image from DALL-E, chart from TradingView.com\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

As Republicans rush to pass President Donald Trump\u2019s \u201cOne Big Beautiful Bill\u201d budget plan, a timely initiative is emerging in Congress that puts cryptocurrency in the spotlight once more. Lawmakers are seeking to attach amendments aimed at providing significant advantages for cryptocurrency investors, contributing to the ongoing shift in the regulatory landscape for digital assets […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-34630","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/34630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34630"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/34630\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}