Senator Cynthia Lummis has introduced The Digital Asset Tax Bill recently and I have been reading very closely between the lines. One provision that’s getting a lot of attention is the de minimis rule. On the surface, it sounds great: no capital gains tax on crypto transactions where the gain is under $300, and up to $5,000 in total gains per year. Sounds like a win, right? Not so fast. Even if you're exempt from paying tax on those small transactions, you still have to track and record every single one of them. You’ll still need to prove the cost basis for each trade and show that the gains stayed within the thresholds. So the administrative burden, the real pain point, doesn’t go away. Let’s be honest: saving $45 in taxes on a $300 gain isn’t exactly life-changing. And the IRS isn't coming after you for $45. They’re focused on large-scale tax evasion, not someone who forgot to report a few coffee-level transactions. So while the de minimis rule sounds attractive, it doesn’t meaningfully reduce your record-keeping headaches. The bill, overall, stitches together various loose ends in crypto tax law and attempts to clarify them. But aside from mining and the wash sale rule, I don't see it as a major overhaul. Now, let’s talk about that wash sale rule. I think it’s horrific. It goes against the very spirit of how crypto markets function. The wash sale rule, currently found in Section 1091 of the tax code, was designed for traditional securities markets. But applying it to crypto, where short-term and high-frequency trading is the norm, makes no sense. In my opinion, the wash sale rule shouldn’t apply to anything, not crypto, not stocks, not bonds. It's a relic. It punishes uninformed investors while savvy traders simply structure their trades to avoid it entirely—using strategies like the mark-to-market accounting method under Section 475. There’s no real economic justification for keeping the rule in place. If anything, eliminating it would encourage more efficient trading and liquidity. If you're concerned about the future of crypto taxation, tell your representatives: kill the wash sale rule, and while we're at it, maybe it’s time to end it for stocks too. #CryptoWeek $btc $eth $sol $xrp $ada $xlm $cro $doge