After over 24 hours of debate, the Senate passed the One Big Beautiful Bill Act budget reconciliation bill with a 50-50 vote. Vice President JD Vance broke the tie to secure the bill’s approval. Democrats and three Republicans voted against it. Many members proposed amendments related to AI regulations and funding for rural hospitals. The bill includes extensions of the 2017 tax cuts, cuts to Medicaid and food assistance, AI regulations, and tax relief measures. 

One Big Beautiful Bill Act and Cryptocurrency Tax Debate 

Wyoming Senator Cynthia Lummis proposed an amendment to prevent double taxation on crypto miners and investors. However, this change was not included in the bill. Lummis stated the bill was “not perfect” but a big step in the right direction. The bill, passed without cryptocurrency tax regulation, now moves to the U.S. House of Representatives. Republicans hold a narrow majority in the House, while Democrats strongly oppose it. 

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 (@SenLummis) June 30, 2025

Trump and Republicans’ Investment Priorities 

Senator Elizabeth Warren emphasized that the bill provides billions in support to wealthy corporations while cutting health services for millions of Americans. Warren pointed out that Republicans prioritize financial support for big companies like Meta by reducing healthcare funding. This sparked public debate on the bill’s social and economic impacts. 

“They care more about helping billionaire companies than helping you.” 

The One Big Beautiful Bill Act approved by the Senate will now be reviewed again in the House. The bill contains significant changes in tax regulations and social services. Given the political balance in Congress, the process is expected to be challenging. However, this step is considered a major turning point in economic and technological regulations. 

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The Bitcoin 2025 Conference, held in Las Vegas from May 27–29, concluded with powerful messages about BTC global future. Key figures like Michael Saylor, Ross Ulbricht, JD Vance, Cynthia Lummis, Jack Mallers, and members of the Trump family took the stage. Hundreds of speakers evaluated Bitcoin’s progress and provided guidance for investors. 

Michael Saylor delivered a presentation titled “21 Paths to Wealth” on the third day. He emphasized the importance of clarity, conviction, and courage in Bitcoin investments. Saylor defined BTC not just as an investment tool, but as a key to financial freedom. He also clarified that MicroStrategy will not become a Bitcoin bank, but will instead develop Bitcoin-collateralized shares and credit products. 

U.S. Vice President JD Vance gave a noteworthy speech, arguing that BTC represents economic freedom and acts as a defense mechanism against centralized governments. He stated that stablecoins are not a threat to the dollar, but rather a strength multiplier. 

Ross Ulbricht appeared on stage for the first time after being pardoned by Donald Trump. He announced that he had regained his freedom and thanked the attendees. Ulbricht talked about the founding of Silk Road and emphasized the principles of freedom, decentralization, and unity. His emotional speech received a standing ovation from the Bitcoin community. 

Clear Messages from Leaders: The U.S. Will Lead Crypto 

Jack Mallers harshly criticized the fiat money system, stating: “No one can print BTC; no one can devalue my time and effort.” He also introduced a Bitcoin-backed lending system, which will offer loans ranging from $10,000 to $1 billion with interest rates between 9–13%. Mallers encouraged investors to HODL and enjoy the process. 

Eric Trump and Donald Trump Jr. openly expressed their support for Bitcoin. Eric Trump revealed that he mortgaged Mar-a-Lago to buy BTC, inspired by Michael Saylor’s views. The Trump brothers emphasized that the U.S. is ready to lead in crypto and urged investors to take action without hesitation. 

Senator Cynthia Lummis stood out with her speech on regulatory frameworks. She also stated that the U.S. is considering BTC as a strategic reserve. “If we hold one million Bitcoins for 20 years, we can cut the national debt in half,” she said. Lummis stressed the need for clear, fair, and sustainable regulations for crypto businesses. 

In summary, the conference highlighted that BTC is no longer just a technology—it’s a movement. 

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During a meeting with South Korean Finance Minister Choi Sang-mok and Trade Minister Ahn Duk-geun, Bessent discussed finding a new equilibrium on tariffs to encourage rather than restrict trade. The Treasury emphasized that talks focused on creating an “expanded equilibrium” to boost trade between the allies.

India Close To Securing Trade Deal With US

Meanwhile, Scott Bessent said India could be among the first countries to finalize a new trade deal with the U.S., avoiding President Trump’s suite of “reciprocal” tariffs. Speaking at the World Bank and IMF Spring Meetings, Bessent noted that India’s lower tariffs and minimal trade barriers made negotiations easier.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

U.S. Vice President JD Vance and Indian Prime Minister Narendra Modi announced a roadmap on Tuesday to advance trade talks, with a 26% tariff potentially coming into effect in July if no deal is reached.

Talks With China Stalled

Bessent also revealed that trade talks with China have stalled. With tariff rates on Chinese imports exceeding 145%, Bessent emphasized that both sides see these levels as unsustainable. However, he insisted that the U.S. would not unilaterally reduce duties.

Bessent added that the U.S. is continuing negotiations with 15 major trading partners aside from China, including Japan, South Korea, Vietnam, and the United Kingdom.

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