Senators question crypto tax rules – Will policy reform come in time?

By: ambcrypto|2025/05/14 23:15:06
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Senators urge Treasury to exclude unrealized crypto gains from CAMT tax calculations. CAMT and new accounting rules risk driving U.S. crypto firms offshore. A growing divide between crypto innovation and federal tax policy has sparked urgent reform demands from pro-crypto lawmakers. Senators Cynthia Lummis and Bernie Moreno oppose the Biden-era Corporate Alternative Minimum Tax (CAMT). They warn it could impose huge tax liabilities on U.S. crypto firms. These firms could face taxes despite not realizing any profits. In a letter to Treasury Secretary Scott Bessent, the senators urged a reassessment of CAMT’s impact on digital asset accounting. They argue that current policies distort financial reporting. The approach unfairly penalizes firms adopting new technologies. Remarking on the same, the lawmakers said, “Failure to provide this clarity on unrealized gains in digital assets might require corporations to sell assets just to pay the tax, and it would disincentivize entities from maintaining large holdings of digital assets.” What is the new tax proposal? The CAMT rule imposes a 15% minimum tax on corporations with an average AFSI of $1 billion or more. This threshold is calculated over three years. It could have a major impact on crypto firms holding digital assets on their balance sheets. Hence, Lummis further added , “Our edge in digital finance is at risk if U.S. companies are taxed more than foreign competitors. @berniemoreno & I urged the @USTreasury to lift an unintended tax burden on U.S. digital asset companies.” She added, “To lead the world in digital assets, we need a level playing field.” As expected, Senator Lummis’ crypto tax proposal seeks to shield companies from being taxed on unrealized gains by excluding these fluctuations from the calculation of Adjusted Financial Statement Income (AFSI) under CAMT. The move responds directly to the Financial Accounting Standards Board’s rule ASU 2023-08, which mandates that firms record digital assets at fair market value. Challenges ahead However, while initially praised for improving transparency, this accounting shift, combined with the CAMT framework, risks inflating taxable income with unrealized crypto gains. Lawmakers argue this could lead to disproportionate tax burdens, ultimately discouraging digital asset investment and driving blockchain innovation offshore. Remarking on which the senators added, “Neither Congress nor FASB planned this outcome. It’s the unintended result of basing tax liability on decisions by a private organization... not principles of taxation.” However, despite ongoing political chatter, market sentiment suggests limited optimism for broader tax reform. Polymarket data showed a 1% chance that President Donald Trump will eliminate capital gains taxes on crypto before June. This followed Senator Lummis’ recent reintroduction of the BITCOIN Act, aiming to establish a national Bitcoin [BTC] ] reserve and empower the Treasury to accumulate up to one million BTC over five years. Share Share Tweet

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LALIGA Match Report: Vinícius scores as 10-man Real Madrid secure a 3-2 comeback victory in Madrid derby

In the early hours of March 23, 2026, Round 29 of LALIGA delivered a headline clash at the Santiago Bernabéu. Real Madrid hosted their local rivals, Atlético de Madrid, in a high-stakes encounter. Under referee José Munuera, the match unfolded at a fierce pace, packed with physical duels and momentum swings. After a five-goal thriller, Real Madrid held firm for a 3–2 home win, taking all three points. They remain second on 69 points, now four behind leaders Barcelona.

From a numbers standpoint, Real Madrid stayed composed under pressure, completing 526 passes with a 52.4% share of possession. Atlético struck first in the 33rd minute through Lookman. After the break, Real Madrid flipped the game: Vinícius converted a penalty to level, then Valverde fired them ahead. Molina pulled Atlético back on level terms, but Vinícius stepped up again in the 72nd minute to seal the win. Late drama followed as Valverde saw red, forcing Real Madrid to defend deep with ten men through the final stretch. Atlético's aggressive approach—12 fouls and 4 yellow cards—kept the pressure on, but they couldn’t stop the comeback.

WEEX Insights: As the official LALIGA partner in the Hong Kong and Taiwan regions, WEEX sees this win as a masterclass in control under pressure. Even after a red card and constant attacks, Real Madrid stayed sharp and executed with precision. That same discipline—staying calm in volatile moments and acting with clarity—reflects the core trading mindset WEEX stands for. LALIGA fan campaigns are coming soon—celebrate the game with WEEX.

About WEEX

Founded in 2018, WEEX has developed into a global crypto exchange with over 6.2 million users across more than 150 countries. The platform emphasizes security, liquidity, and usability, providing over 1,200 spot trading pairs and offering up to 400x leverage in crypto futures trading. In addition to the traditional spot and derivatives markets, WEEX is expanding rapidly in the AI era — delivering real-time AI news, empowering users with AI trading tools, and exploring innovative trade-to-earn models that make intelligent trading more accessible to everyone. Its 1,000 BTC Protection Fund further strengthens asset safety and transparency, while features such as copy trading and advanced trading tools allow users to follow professional traders and experience a more efficient, intelligent trading journey.

Follow WEEX on social media

X: @WEEX_Official 

Instagram: @WEEX Exchange

 Tiktok: @weex_global 

Youtube: @WEEX_Official 

Discord: WEEX Community 

Telegram: WeexGlobalGroup

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WEEX Insights: As the Official LALIGA Partner in HK & TW, WEEX sees Barça’s 89% passing accuracy as a clear example of high execution with minimal error. Staying precise under pressure and finding the breakthrough reflects the same disciplined approach used in rational trading.

LALIGA interactive campaigns are coming soon—stay tuned with WEEX ⚽️

About WEEX

Founded in 2018, WEEX has developed into a global crypto exchange with over 6.2 million users across more than 150 countries. The platform emphasizes security, liquidity, and usability, providing over 1,200 spot trading pairs and offering up to 400x leverage in crypto futures trading. In addition to the traditional spot and derivatives markets, WEEX is expanding rapidly in the AI era — delivering real-time AI news, empowering users with AI trading tools, and exploring innovative trade-to-earn models that make intelligent trading more accessible to everyone. Its 1,000 BTC Protection Fund further strengthens asset safety and transparency, while features such as copy trading and advanced trading tools allow users to follow professional traders and experience a more efficient, intelligent trading journey.

Follow WEEX on social media

X: @WEEX_Official

 Instagram: @WEEX Exchange 

Tiktok: @weex_global 

Youtube: @WEEX_Official 

Discord: WEEX Community 

Telegram: WeexGlobalGroup

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