US Senators Push for Major Reform in Crypto Taxation Rules

US Senators Cynthia Lummis and Bernie Moreno are spearheading a legislative effort to reform cryptocurrency taxation, specifically targeting the 15% Corporate Alternative Minimum Tax (CAMT). The proposed changes aim to exempt digital assets from fair value accounting adjustments, arguing that current rules create disproportionate burdens for crypto-holding corporations.

The CAMT currently applies to firms with an average annual financial statement income exceeding $1 billion over three years. Senators contend that maintaining the status quo risks undermining US competitiveness in digital finance, as domestic companies face heavier tax liabilities than international counterparts.

Treasury officials now face mounting pressure to address what lawmakers characterize as regulatory overreach. The proposed exemption could significantly alter accounting practices for major corporations with cryptocurrency exposure, potentially reshaping institutional participation in digital asset markets.