According to @FoxNews, the U.S. Senate has advanced a major budget bill without including Senator Cynthia Lummis's proposed amendment to ease cryptocurrency taxation, which would have waived capital gains taxes on small-scale crypto activities. While this legislative development represents a temporary setback for simplifying crypto tax reporting for traders, former President Donald Trump reiterated his pro-crypto stance at a Coinbase summit. He promised his administration would work towards establishing "clear and simple" market frameworks for digital assets and supported the GENIUS Act for dollar-backed stablecoins. This political signaling coincides with a bullish market trend, as Bitcoin (BTC) is trading around $109,161.13, up 1.88%, and Ethereum (ETH) is at $2,598.87, showing a significant 6.04% increase over 24 hours. Other altcoins like Avalanche (AVAX) and Cardano (ADA) also posted strong gains against BTC, rising 6.73% and 6.13% respectively, suggesting broad positive sentiment potentially fueled by the prospect of a more favorable U.S. regulatory environment.