As the usage and popularity of cryptocurrencies increase, the country will enact stricter legal measures to increase taxation.
With the amendment approved, the bill will now be presented to the House of Representatives and the US Senate where it could soon be written into law.
The IRS has been examining crypto for a while. Last year it added a line about cryptocurrency to its individual tax returns.
Any income has a taxable scope, and they are only forced to report to the tax bureau for taxation when it exceeds 10k. If the bill is passed, you will be tax-exempt at 10k and below. With capital gains, I believe it will still increase the tax rate on normal income.