Yeliz Akmaca 
The U.S. Senate approved the Trump-backed budget bill without including the cryptocurrency tax clause. The bill faced criticism from both parties due to health, artificial intelligence, and tax regulations.
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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