Senate Sets Crypto Tax Showdown—Will Trump Push Sweeping Relief?
The US Senate Committee on Finance has scheduled a listening to titled “Examining the Taxation of Digital Assets” for Wednesday, October 1, 2025, at 10:00 a.m. Eastern Time, in Room 215 of the Dirksen Senate Office Building.
US Senate To Put Crypto Taxes Under The Microscope
The panel will hear testimony from business and tax-policy consultants, together with Jason Somensatto, director of coverage at Coin Center; Andrea S. Kramer, a founding member of AS Kramer Law; Lawrence Zlatkin, vice chairman of tax at Coinbase; and Annette Nellen, chair of the Digital Assets Tax Task Force on the American Institute of CPAs. The committee’s discover lists Chairman Mike Crapo and Ranking Member Ron Wyden for opening statements and says a livestream might be out there on the committee’s web site.
The formal discover follows early reporting on social media. Fox Business journalist Eleanor Terrett wrote: “The @SenFinance Committee has simply introduced a listening to subsequent Wednesday, October 1st at 10AM EST on crypto taxes,” including the witness record and framing the session as a centered evaluate of current rules.
Although the witness lineup spans advocacy, company, authorized, and professional-standards views, the committee has not launched draft laws hooked up to the listening to. The agenda suggests a broad fact-finding remit as senators weigh learn how to deal with the advanced spectrum of digital-asset exercise for federal income-tax functions, from staking, token launches, and protocol-level distributions to foundation monitoring, wash-sale parity, and information-reporting obligations.
Market members are already making an attempt to learn the political tea leaves. The dealer generally known as “HORSE” (TheFlowHorse) posted a pointed apart on X: “Tinfoil hat. Trump admin will do something to make their crypto exercise have much less of a tax burn. Major favorable modifications are coming.”
The listening to lands in opposition to a shifting backdrop for US crypto tax coverage. Earlier this 12 months, the Senate voted with a large bipartisan margin to roll again a Biden-era rule that might have prolonged broker-style reporting to sure decentralized finance platforms starting in 2027, a transfer the business argued misfit the expertise and imposed disproportionate prices.
The October 1 session is subsequently much less a slender technical listening to than a barometer of the place the following wave of federal tax steerage could head. The Finance Committee’s web site lists the listening to time as 10:00 a.m. ET on October 1; for European readers, that corresponds to 16:00 CEST. A livestream hyperlink might be posted on the committee web page nearer to the beginning.
At press time, the whole crypto market cap was $3.77 trillion.
