Sen. Tim Scott on Tax Bill, Crypto, Combatting Debanking

Sen. Tim Scott on Tax Bill, Crypto, Combatting Debanking

Senate Republican pushes to add crypto to tax-and-spending bill

Sen. Cynthia Lummis, R-Wyo., is pushing to add language to her party’s tax-and-spending bill that would revamp how the US taxes cryptocurrency. The Wyoming Republican told Semafor she sent Senate Finance Chair Mike Crapo tax-related provisions of her regulatory overhaul with Sen. Kirsten Gillibrand — including a proposal to apply the wash-sale rule to crypto, which could rake in billions of dollars in revenue, and another to absolve bitcoin mine…