Internet reports that Senator Cynthia Lummis, an activist advocate of cryptocurrencies, said the Senate Finance Committee is making progress on legislation on how to tax digital assets. "As far as I understand, the Senate Finance Committee is drafting contains 10 items, nine of which we proposed, plus one, so I think we are making progress on that," the cryptocurrency-friendly Wyoming Republican said in a speech at BTC in DC in Washington, D.C. on Tuesday. Earlier in July, Cynthia Lummis proposed legislation aimed at modernizing the tax treatment of digital assets, including a minimum clause to exclude gains or losses from crypto transactions less than $300 from taxation and declare digital asset lending not a taxable event, among other measures.