Lummis: Crypto Tax Legislation Unlikely in Lame-Duck Session

Lummis Expresses Doubts on Crypto Tax Legislation in Lame-Duck Session

Senator Cynthia Lummis, a prominent advocate for cryptocurrency, expressed skepticism about the chances of passing cryptocurrency taxation legislation during the post-midterm lame-duck session in Congress.

Lummis, who led one of the early crypto tax frameworks in the Senate, stated that Finance Committee members are hesitant to reopen the tax code in the current session.

According to Lummis, reopening the tax code would make it vulnerable to various ideas that differ from the Working Families Tax Cut bill, which was passed by the GOP last year.

As a result, Lummis expects that it will be surprising if any tax-related legislation on digital assets gets through Congress during this session.