U.S. Senator Cynthia Lummis assessed a low probability of a cryptocurrency-related tax bill passing Congress this year. Lummis stated, “Members of the Senate Finance Committee are not actively resuming tax law discussions in the lame-duck session after the midterm elections. It would be surprising if a digital asset tax bill were to be processed in that session. If discussions on tax law amendments restart, there could be various additional amendment requests beyond the tax law passed last year.”
