US Senators Urge Treasury to Adjust Crypto Tax Policies to Maintain Global Competitiveness

By: cointurk|2025/05/15 09:30:09
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U.S. Republican Senator Cynthia Lummis has called upon the Treasury Department to revise tax regulations concerning crypto assets. Lummis argued that U.S. crypto finance companies face higher taxes compared to their foreign counterparts, putting America’s competitive edge at risk. Crypto Tax Regulation Senators Cynthia Lummis and Bernie Moreno from Ohio emphasized the newly enacted Inflation Reduction Act in their letter to Treasury Secretary Scott Bessent. This legislation imposes a 15% tax liability under the Corporate Alternative Minimum Tax (CAMT) for certain companies. Lummis highlighted that companies in the innovative financial sector must pay taxes on unrealized gains in their crypto assets, posing a serious disadvantage. She noted that this tax approach challenges the position of U.S. companies in the global crypto asset market. Legal Implications and Unintended Outcomes According to the senators, current regulations result in outcomes contrary to the intentions of both the U.S. Congress and the Financial Accounting Standards Board (FASB). They argued that companies with large crypto holdings paying taxes on unrealized gains represents an unplanned burden. This tax situation may deter relevant companies from holding digital assets. Consequently, Lummis and Moreno urged the Treasury to use existing powers to reduce the tax burden or exclude unrealized gains from tax calculations. The tax application and potential revisions appear to directly affect the crypto asset sector. The current disadvantage faced by U.S. companies may reduce some institutions’ propensity to hold digital assets, potentially impacting the U.S. on the international stage in innovation and financial technology. Public and industry opinions vary on this matter, and any potential regulatory request from the Treasury is being closely monitored. There are plans for Congress and financial authorities to comprehensively address the issue in the coming period. In the U.S., tax regulations on digital assets are considered a factor that can determine companies’ competitiveness in the global market. The steps to be taken in line with the opinions of the government and industry representatives are likely to influence the future of the digital finance sector.

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BeatSwap is evolving towards a full-stack Web3 infrastructure, covering the entire lifecycle of IP rights.

The core product "Space" is scheduled to launch in Q2 2026, driven by SocialFi


BeatSwap, a global Web3 Intellectual Property (IP) infrastructure project, is attempting to overcome the current fragmentation limitations of the Web3 ecosystem, building a full-stack system that covers the entire lifecycle of IP rights.


Currently, most Web3 projects are still in the stage of functional fragmentation, often focusing only on a single aspect, such as IP asset tokenization, transaction functionality, or a simple incentive model. This structural dispersion has become a key bottleneck hindering the industry's scale application.


BeatSwap's approach is more integrated, integrating multiple core modules into the same system, including:


· IP authentication and on-chain registration

· Authorization-based revenue sharing mechanism

· User-engagement-driven incentive system

· Transaction and liquidity infrastructure


Through the above integration, the platform builds an end-to-end closed-loop path, allowing IP rights to complete a full cycle of "creation, use, and monetization" within the same ecosystem.


Expanding from Web3 to a broader market: Restructuring the music industry's supply-demand structure


BeatSwap is not limited to existing crypto users but is attempting to take the global music industry as a starting point, actively creating new market demand. Its core strategies include:


Exploring and incubating music creators (Artist discovery)

Building a fan community

Igniting IP-centric content consumption demand


The current global music industry is valued at around $260 billion, with over 2 billion digital music users. This means that the potential market corresponding to the tokenization and financialization of IP far exceeds the traditional crypto user base.


In this context, BeatSwap positions itself at the intersection of "real-world content demand" and "on-chain infrastructure," attempting to bridge the structural gap between content production and financial flow.


"Space" to Launch in Q2 2026: Building the Core of SocialFi


BeatSwap's upcoming core product "Space" is scheduled to launch in the second quarter of 2026. This product is defined as the SocialFi layer in the ecosystem, aiming to directly connect creators with users and achieve deep integration with other platform modules.


Key designs include:

A fan-centric interactive mechanism

Exposure and distribution logic based on $BTX staking

User paths connected to DeFi and liquidity structures


Thus, a complete user behavior loop is formed within the platform: Discovery → Participation → Consumption → Rewards → Trading


$BTX Token Mechanism: Evolving from an Incentive Tool to a Value Carrier


$BTX is designed to be a core utility asset within the ecosystem, rather than just a simple incentive token, with its value directly tied to platform activity and IP use cases.


Main features include:


· Yield distribution based on on-chain authorized actions

· Value reflection based on IP usage and user engagement dynamics

· Support for staking and DeFi participation mechanisms

· Value growth driven by ecosystem expansion


With the increased frequency of IP use, the utility and value support of $BTX will enhance simultaneously, helping alleviate the "disconnect between value and utility" issue present in traditional Web3 token models to some extent.


Accelerating Global Exchange Layout: Enhancing Liquidity and Accessibility


Currently, $BTX has been listed on several mainstream exchanges, including:


Binance Alpha

Gate

MEXC

OKX Boost


As the launch of "Space" approaches, BeatSwap is actively pursuing more exchange listings to further enhance liquidity and global accessibility, laying a foundation for future market expansion.


Beyond Web3: Aiming for a Larger-Scale Integration of Content and Finance Markets


BeatSwap's goal is no longer limited to the traditional Web3 narrative but aims to target over 2 billion digital music users and a trillion KRW-scale content market.


By integrating content creators, users, capital, and liquidity into a blockchain framework centered around IP rights, BeatSwap is striving to build a next-generation infrastructure focused on "IP tokenization."


Conclusion


BeatSwap integrates IP authentication, authorization distribution, incentive mechanism, transaction system, and market construction to establish a unified structure that bridges the full lifecycle path of IP rights.


With the launch of the Q2 2026 "Space," the project is expected to become a key infrastructure connecting content and finance in the IP-RWA (Real World Assets) track.


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