Michael Saylor Urges End to Double Taxation on Bitcoin Mining
- Lyla Velez
- July 1, 2025
- Policy
- 0 Comments
Key Points:
- Main event, leadership changes, market impact, financial shifts, or expert insights.
- Saylor and Lummis oppose double taxing miners.
- Reform could boost U.S. mining sector.
Michael Saylor and Senator Lummis have consistently opposed the U.S. tax regime on Bitcoin mining, arguing it undermines competitiveness. Saylor stated, “We must end unfair taxes on BTC miners if America is going to be the world’s Bitcoin Superpower.”
Both figures advocate for reform, with Lummis introducing a tax proposal targeting the double taxation issue. Miners and stakers face taxes on block rewards and sales, which they aim to change.
Reforming the tax system could enhance mining profitability and attract institutional investment. Current laws affect miners’ income, which has dropped to $34 million as of June 2025.
“For years, miners and stakers have been taxed TWICE. Once when they receive block rewards, and again when they sell it. It’s time to stop this unfair tax treatment and ensure America is the world’s Bitcoin and Crypto Superpower.” – Senator Cynthia Lummis
The proposed changes may have broader implications for financial stability and innovation in the crypto sector. Historical parallels in commodity taxation could drive momentum for reform.
Should these reforms be enacted, effects could ripple through U.S. and global markets, potentially stabilizing Bitcoin market dynamics and encouraging infrastructure growth. Such changes could also influence regulations across sectors.
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