Jack Dorsey Seeks Tax Exemption for Daily Bitcoin Transactions, Cynthia Lummis Highlights Her Proposed Legislation
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: benzinga_crypto
Updated: Oct 10 2025Support for Bitcoin Tax Relief: Senator Cynthia Lummis endorsed Jack Dorsey's proposal for a tax exemption on small Bitcoin transactions, referencing her own legislation that aims to exempt gains from transactions up to $300, with an annual cap of $5,000.
Concerns Over Tax Limits: While the proposed legislation has garnered support, some users expressed that the transaction limits are too low, and there are ongoing debates about whether cryptocurrency transactions should be taxed at all.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
