The US crypto landscape is facing divergent approaches to regulation and taxation. While senators call for revisions to corporate crypto holdings’ tax status under the Inflation Reduction Act, state-level regulations are taking a more cautious approach. Senators Cynthia Lummis and Bernie Moreno urge Treasury Secretary Scott Bessett to modify the act’s definition of ‘adjusted financial statement income,’ arguing that it could unfairly penalize US companies holding digital assets. This request aims to preserve American leadership in the evolving digital finance sector. Arizona, however, is taking a more restrained approach, with Governor Katie Hobbs vetoing bills promoting state involvement in crypto and instead signing legislation regulating Bitcoin ATMs for consumer protection. The contrasting approaches highlight the fragmented regulatory environment across states.