The US Senate's discussions over President Trump's major tax and spending bill are set to continue into the night as senators propose numerous amendments, including ones related to cryptocurrency. A vote-a-rama is ongoing for the One Big Beautiful Bill Act, with a tight timeline aiming for passage by July 4. Senator Cynthia Lummis has introduced an amendment to address what she calls unfair tax treatment of crypto transactions, proposing to exempt transactions under $300 and to halt taxes on crypto earned from activities like mining until sold. Additionally, a Democrat-backed amendment aiming to prohibit government officials from promoting certain digital assets was voted down, with concerns about its impact on innovation being cited. Elon Musk has publicly criticized the bill's spending measures and indicated plans to form a new political party if it passes, demonstrating significant opposition to the proposed debt increase. This bill's journey reflects the contentious nature of cryptocurrency regulation within broader fiscal policies.

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