PANews reported on June 5 that according to Semafor, Wyoming Republican Senator Cynthia Lummis is pushing to add clauses to her party's tax and spending bill to reform the way the United States taxes cryptocurrencies. The core content includes extending the securities trading "wash sale rules" to the cryptocurrency field, which is expected to bring in billions of dollars in tax revenue while exempting Bitcoin miners from the obligation to report profits and losses. Lummis submitted a tax reform plan jointly drafted with Senator Kirsten Gillibrand to Senate Finance Committee Chairman Mike Crapo.

Lummis stressed that the current tax system has defects that need to be corrected, while Gillibrand believes that the time is not yet ripe for legislation. Members of the Finance Committee have consulted with President Trump on the content of the bill, and Louisiana Senator Bill Cassidy revealed that the president is concerned about the "work account benefits" clause. If the proposal is passed, it will become the first systematic crypto asset tax framework in the United States.