Who?
Sen. Mike Crapo (R-ID) — Chair, Senate Finance Committee
LISTEN: Laslo & Crapo
Ask a Pol asks:
Do you think the effort to update the tax code for digital currencies will be combined with the crypto market structure measure winding its way through Congress?
Key Crapo:
“That’s a really good question. You know, because market structure is the Banking Committee,” Sen. Mike Crapo exclusively tells Ask a Pol. “First of all, they’re separate tracks right now.
“And I guess it just depends on if everything’s ready for each of them at the same time. They could be merged, but I’m not telling you that’s part of the plan.”
It seems like the definition of commodity really becomes key to the taxing side?
“Yeah,” Crapo says. “It does.”
Caught our ear:
“The first top line takeaway is that America really needs to set up the rules of the road, so that we make America the dominant economy in this zone,” Crapo tells us in wake of last week’s Senate Finance Committee hearing on the tax code for digital currencies.
Below find a rough transcript of Ask a Pol’s exclusive interview with Sen. Mike Crapo (R-ID), slightly edited for clarity.
TRANSCRIPT: Sen. Mike Crapo (10-7-2025)
SCENE: Ask a Pol’s Matt Laslo had just run into Senate Finance Chair Mike Crapo on the first floor of the Capitol and they just traded brief pleasantries.
Matt Laslo: “I was giving you space downstairs.”
Mike Crapo: “That’s alright.”
ML: “You chaired that hearing on crypto last week on taxation?”
ICYMI — Our reporting on last week’s hearing
MC: “Yeah.”
ML: “What do you — what was your takeaway from that?”
MC: “Well, the first top line takeaway is that America really needs to set up the rules of the road, so that we make America the dominant economy in this zone.”
ML: “Yeah?”
MC: “And secondly, there were discussions of lots of different possible issues that need to be dealt with.”
ML: “Yeah?”
MC: “You know, like when is a transaction going to generate revenue — for taxable revenue, and how we define all of that? And a number of other issues like that. So I mean the key takeaway is, the questions that need to be answered were identified there.”
ML: “Do you think that gets tied into market structure or a...?’
MC: “That’s a really good question. You know, because market structure is the Banking Committee.”
ML: “Yeah.”
MC: “Right now, in my own mind — well, first of all, they’re separate tracks right now.”
ML: “Yeah?”
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MC: “And I guess it just depends on if everything’s ready for each of them at the same time. They could be merged, but I’m not telling you that’s part of the plan.”
ML: “Yeah? Well, because it seems like the definition of commodity really becomes key to the taxing side.”
MC: “Yeah. It does.”
ML: “Yeah?”
MC: “You know, and they made that point in the hearing too.”
ML: “Yeah? See I’m not smart, I just listen.’
They laugh.
ML: “Thank you, sir.”
