Daines Floats Senate Crypto Tax Bill Ahead of Midterm Elections

Senator Steve Daines (R-Mont.) has circulated a draft of cryptocurrency tax legislation in the Senate, aiming to provide clarity on digital asset taxation. This move comes after a bipartisan vote in the House earlier this month, where lawmakers showed enthusiasm for addressing the issue. The retiring member of the Senate Finance Committee has expressed his desire to set down a marker on crypto taxation before he departs.

The draft legislation is expected to be formally introduced next week, according to Daines' office. By releasing it ahead of the midterm elections, Daines leaves the door open for potential Senate action in the lame-duck session.