US Edition
Crypto Tax Proposal That Didn't Make It to Trump's Budget Bill Pushed on Its Own
UNITED STATES, JUL 3 – Cryptocurrency now accounts for nearly 10% of the Trump family's $6.4 billion net worth, driven by token sales, memecoins, NFTs, and mining operations, Bloomberg reports.
- Senator Cynthia Lummis introduced a digital asset tax legislation in 2025 aimed at easing regulations on cryptocurrencies in the U.S. government.
- The legislation emerged from a growing crypto sector tied to the Trump family, which expanded ventures including a memecoin and American Bitcoin valued at over $3 billion.
- The bill proposes removing taxes on crypto transactions under $300, ending double taxation for miners and stakers, and establishing tax parity with traditional assets.
- Bloomberg estimates the Trump family's crypto stake is worth about $2 billion, while Forbes projects Trump’s crypto gains could reach $1 billion, highlighting significant wealth from these assets.
- If passed, the legislation could facilitate digital economy participation under a crypto-friendly administration, though political challenges persist for Republicans amid potential special election losses.
48 Articles
48 Articles
Ex-Tri-Cities pastor accused of $5.9M crypto fraud called ‘serious danger’ to community
The former pastor of a Pasco church is back in jail after accusations he committed fraud and tampered with witnesses while awaiting trial in a multimillion dollar cryptocurrency fraud case in federal court.Francier Obando Pinillo, the owner and pastor of Tiempo de Poder Church in Pasco, is accused of contacting alleged victims in the case and of fraudulently soliciting funds for a fake orphanage through Facebook, according to Assistant U.S. Atto…
Crypto Scam Impersonates Trump-Vance Inaugural Committee
“Fraudsters are attracted to valuable cryptocurrency wallets like moths to a flame, and if an individual or entity is investing in crypto, they need to stay up to date on best practices for keeping those assets secure," said Jared Lenow, a partner at Friedman Kaplan Seiler Adelman & Robbins.
From shaky to robust, 6 months of Donald Trump’s second presidency revive his business fortunes
President Donald Trump has profited from the presidency like no one else in American history as the difference between the personal and the professional has ceased to exist. Nearly two-thirds of his $11 billion net worth has come from cryptocurrency ventures in past six months alone.
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