Wyoming senators have revived a proposal to exempt small crypto transactions from taxation during market structure discussions.
PANews reported on March 10th that, according to Cointelegraph, Wyoming Senator Cynthia Lummis, who will leave office in January 2027, has revived a proposal to exempt small-value cryptocurrency transactions from taxation during Senate debate on the digital asset market structure bill. In an interview with CNBC, Lummis stated that the House Ways and Means Committee and the Senate Finance Committee are considering establishing a $300 tax exemption, allowing users to make payments without paying capital gains tax.
In July 2025, Lummis introduced a separate bill proposing a capital gains tax exemption for crypto transactions under $300, with an annual cap of $5,000. She stated that she is seeking a balance to determine when Bitcoin transactions should be subject to capital gains tax and when they should be used as a simple medium of exchange like the US dollar. Lummis noted that her Democratic colleagues have not yet voted in favor of the crypto market structure bill.
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