Senator Cynthia Lummis and Senator Mike Crapo are leading the push for crypto tax provisions within the 2025 budget proposal, aiming to close the wash-sale loophole in cryptocurrency trading. This move seeks to increase government revenue while adjusting market practices, potentially impacting investors and market strategies. The proposed legislation also includes a Bitcoin miner exemption. While the financial landscape may change with these potential amendments, the impact on market practices and federal revenue is expected to be significant for the U.S. government. The cryptocurrency community anticipates further legislative updates. Similar past government actions have historically influenced market behavior, offering valuable insights into future trends in this space.