Elon Musk has officially launched the America Party, signaling a bold political move that embraces Bitcoin as a core financial principle amid skepticism toward fiat currency. This new political entity
BitcoinWorld Unlocking America’s Potential: Crucial House Hearing on Crypto Tax Policy Framework Set for July 9 The world of cryptocurrencies and blockchain technology is rapidly evolving, bringing with it both immense opportunities and complex regulatory challenges. For years, the lack of clear guidelines, especially around taxation, has been a significant hurdle for innovation and adoption in the United States. But a pivotal moment is approaching that could change the landscape entirely. On July 9, the U.S. House Committee on Ways and Means, specifically its Subcommittee on Oversight, is set to hold a crucial hearing titled “Making America the Crypto Capital of the World.” This event, as reported by Crypto In America host Eleanor Terrett, will zero in on establishing a comprehensive crypto tax policy framework for digital assets . This isn’t just another congressional meeting; it’s a vital step towards providing the clarity and certainty that the crypto industry desperately needs. Why a Clear Crypto Tax Policy Framework is Essential for Digital Assets The current state of digital assets taxation in the U.S. can be best described as a patchwork, often leaving investors and businesses navigating ambiguous rules. This uncertainty stifles innovation, deters investment, and complicates compliance. A well-defined crypto tax policy framework offers numerous benefits: Promoting Innovation: Clear rules provide a stable environment for startups and established companies to build, invest, and grow without fear of sudden regulatory shifts or punitive tax implications. This encourages more talent and capital to flow into the sector. Investor Confidence: When tax obligations are transparent, retail and institutional investors alike feel more secure. This reduces the perceived risk associated with investing in cryptocurrencies, potentially attracting a broader base of participants to the market. Fair and Efficient Revenue Collection: A clear framework enables the government to collect appropriate taxes from crypto activities, contributing to public funds while ensuring fairness across all taxpayers. Leveling the Playing Field: It ensures that all participants, from individual traders to large enterprises, understand their obligations, fostering a more equitable and competitive market. Combating Illicit Activities: While tax policy isn’t solely about law enforcement, a robust framework can integrate reporting mechanisms that help authorities track illicit financial flows more effectively, enhancing the integrity of the financial system. Without this clarity, the U.S. risks falling behind other nations that are actively developing comprehensive regulatory approaches to digital assets. Understanding the Significance of the Upcoming House Hearing The announcement of this specific House hearing signals a serious commitment from lawmakers to address the complexities of cryptocurrency taxation. Unlike general discussions, a hearing focused on a “tax policy framework” implies a move towards actionable legislative solutions rather than just exploratory talks. This session, led by the Subcommittee on Oversight, is expected to bring together a diverse group of stakeholders, including: Lawmakers: Members of the Ways and Means Committee, who have jurisdiction over tax policy, will lead the discussion, posing questions and absorbing insights. Industry Experts: Representatives from leading blockchain companies, crypto exchanges, and advocacy groups will likely share their perspectives on the challenges and opportunities of current tax laws. Academic Scholars: Researchers specializing in economics, law, and technology may provide independent analysis and recommendations. Government Agencies: Representatives from the Treasury Department and the IRS are crucial, as they are responsible for implementing and enforcing tax laws. Their input will be vital in crafting practical and effective policies. The hearing’s title, “Making America the Crypto Capital of the World,” clearly indicates an ambitious goal. It suggests that lawmakers are not just looking to regulate, but to actively foster an environment where the U.S. becomes a global leader in blockchain innovation and digital asset adoption. This aspirational title frames the tax policy discussion not as a burden, but as an essential tool for achieving national economic competitiveness. Navigating the Complexities of Crypto Tax Policy and Blockchain Regulation Crafting effective crypto tax policy is inherently challenging due to the unique characteristics of digital assets and the underlying blockchain regulation landscape. Here are some key areas of complexity that the hearing will likely touch upon: 1. Defining and Classifying Digital Assets: Is a cryptocurrency property, a security, a commodity, or something else entirely? The IRS currently treats crypto as property, leading to capital gains/losses. However, other assets like NFTs or stablecoins may require different classifications, impacting how they are taxed. 2. Transaction Tracking and Reporting: The decentralized nature of blockchain makes tracking individual transactions for tax purposes incredibly complex. Many users engage in numerous small transactions, staking, DeFi lending, or yield farming, all of which can have tax implications. The hearing may explore simplified reporting mechanisms or new forms to ease this burden. 3. International Consistency: Cryptocurrencies operate globally. Tax policies developed in the U.S. need to consider how they interact with regulations in other jurisdictions to prevent arbitrage, double taxation, or the flight of innovation to more favorable environments. 4. Staking, Mining, and DeFi: How should income from staking rewards, mining, or participation in decentralized finance (DeFi) protocols be taxed? Is it ordinary income, or does it fall under different categories? These activities often generate income in novel ways that don’t fit neatly into existing tax codes. 5. Non-Fungible Tokens (NFTs): The rise of NFTs introduces new questions. Are they collectibles? Are they intellectual property? Their unique characteristics may require specific tax treatment for sales, royalties, and transfers. 6. Taxable Events: Clarifying what constitutes a taxable event is crucial. Is it just selling crypto for fiat, or does trading one crypto for another, using crypto for purchases, or receiving airdrops also trigger a taxable event? Clear guidance here is paramount for compliance. The goal of the hearing will be to solicit input on how to address these complexities in a way that is fair, enforceable, and supportive of the broader goal of making the U.S. a global crypto capital . The Vision: Making America the Crypto Capital of the World The aspiration to make America the global crypto capital isn’t just rhetoric; it’s a strategic economic objective. Achieving this status requires more than just a clear tax policy; it demands a holistic approach to blockchain regulation that fosters innovation while protecting consumers and ensuring financial stability. Here’s how a well-crafted tax framework contributes to this grand vision: Attracting Talent and Investment: When the regulatory environment is predictable and supportive, it draws the brightest minds and the deepest pockets. This means more startups, more jobs, and more capital flowing into the U.S. crypto ecosystem. Fostering Responsible Innovation: Clear rules don’t stifle innovation; they channel it. Companies can innovate within known boundaries, reducing legal and financial risks associated with regulatory uncertainty. Enhancing Global Competitiveness: Countries like the UK, EU nations, Singapore, and Dubai are actively vying for crypto leadership. By establishing a robust framework, the U.S. can compete effectively and ensure it remains at the forefront of this technological revolution. Building Trust: A regulated environment, including clear tax rules, builds trust among mainstream financial institutions and the general public, paving the way for broader adoption of digital assets. The hearing on July 9 is a foundational step in realizing this vision. It underscores the recognition by policymakers that digital assets are not a fleeting trend but a transformative technology that requires thoughtful and forward-looking governance. Actionable Insights for Crypto Holders and Businesses While the House hearing aims to shape future policy, what can individuals and businesses do now to prepare for potential changes and ensure compliance with existing (and evolving) crypto tax policy ? Maintain Meticulous Records: This is perhaps the most crucial step. Keep detailed records of every crypto transaction, including purchase dates, costs, sale dates, sale prices, and the fair market value of crypto at the time of any taxable event. Utilize crypto tax software to help automate this process. Understand Current IRS Guidance: Familiarize yourself with IRS Notice 2014-21 and subsequent FAQs and guidance. While incomplete, these documents provide the current framework for how crypto is treated for tax purposes. Consult with Tax Professionals: Given the complexities, seeking advice from a tax professional specializing in cryptocurrencies is highly recommended. They can help you navigate your specific situation and ensure compliance. Stay Informed: Follow legislative developments, especially those stemming from this upcoming House hearing. Policy changes can happen quickly, and staying updated will help you adapt your tax strategy accordingly. Plan for Taxable Events: Be aware that selling crypto for fiat, trading one crypto for another, or using crypto to purchase goods/services are generally considered taxable events. Plan your transactions with tax implications in mind. For businesses dealing with digital assets , the implications are even broader, encompassing accounting standards, employee compensation, and international operations. Proactive engagement with legal and tax advisors is essential to ensure robust compliance frameworks are in place. A Glimpse into the Future of Blockchain Regulation in the U.S. The July 9 House hearing is more than just a discussion about taxes; it’s a critical indicator of the U.S. government’s evolving stance on blockchain regulation as a whole. A coherent and sensible tax framework is often seen as a prerequisite for broader regulatory clarity across other aspects of the crypto ecosystem, such as securities classification, consumer protection, and market integrity. By addressing taxation, Congress signals its readiness to provide the necessary guardrails for the industry to flourish responsibly. This could pave the way for more comprehensive legislation that truly establishes the U.S. as the undisputed crypto capital , fostering an environment where innovation thrives while ensuring investor safety and financial stability. The journey to a clear and effective crypto tax policy is ongoing, but this upcoming House hearing represents a significant leap forward. It’s a testament to the growing recognition of digital assets’ importance and the urgent need for a regulatory environment that supports, rather than hinders, their potential. The outcome of this hearing will undoubtedly shape the future of cryptocurrency in America, impacting everyone from individual investors to multinational blockchain enterprises. Keeping a close eye on these developments is not just about compliance; it’s about understanding the trajectory of a revolutionary technology. To learn more about the latest crypto market trends and evolving blockchain regulation, explore our article on key developments shaping digital asset institutional adoption. This post Unlocking America’s Potential: Crucial House Hearing on Crypto Tax Policy Framework Set for July 9 first appeared on BitcoinWorld and is written by Editorial Team
The developer says he has now been released but was allegedly detained and faced up to eight years in prison after his Salvadoran neighbor accused him of calling her “stupid” during a dispute over a piece of land. Bitcoin Core Contributor Arrested After Dispute With Neighbor Thanks to a bizarre quirk in a Salvadoran law
Current rules call for capital gains tax on profits, but reporting gaps means that tax enforcement is not thorough.
Some investors expect Bitcoin to break out of its consolidation phase and reach new record highs in the second half of the year. Behind this optimistic expectation are the acceleration of corporate treasury purchases, strong cash inflows into exchange-traded funds (ETFs), and cryptocurrency legislation advancing in the US Congress. Bitcoin rose nearly 30% in the second quarter, but the period has been labeled “consolidation.” Bitcoin’s gains have diminished month-on-month after trading in a narrow price range for three months. The cryptocurrency gained 15% in the first half of the year, a more subdued performance compared to the 45% rise in the same period last year. But analysts say the real rise may be starting now. Bitcoin, which had largely traded above $100,000 since May 9, was trading at $108,000 today, about 3% below the record of $111,999 reached in May. “We are still seeing an acceleration in ETF adoption. Institutional treasuries are just starting to develop Bitcoin strategies, and we expect more money to flow through these channels,” said Devin Ryan, head of financial technology research at Citizens Bank. According to Ryan, there is increasing individual and institutional interest in Bitcoin, and this trend points to strong upside potential. Another element that plays a significant role in this rise is “Bitcoin treasury companies.” Firms like Nakamoto, Twenty One and Strive Asset Management are raising capital to buy Bitcoin through stock issuances by merging with public companies. “There are mergers that are pending SEC approval. So there is a lot more money waiting to buy Bitcoin that hasn’t bought yet,” said Steven Lubka, Vice President of Investor Relations at Nakamoto. Related News: Watch Out: Many Economic Developments and Altcoin Events in the Coming Week - Here's the Day-by-Day, Hour-by-Hour List Lubka says that not only institutional demand, but also new fiscal stimulus expected from Washington and record-breaking stock markets will contribute to Bitcoin’s rise. “On the one hand, Bitcoin is becoming a more mature asset class, and on the other hand, a large amount of capital is flowing into this area with the financialization process,” Lubka says, arguing that the current administration’s positive attitude towards Bitcoin will also be a major catalyst. According to Geoff Kendrick, Head of Digital Assets Research at Standard Chartered, regulatory developments in the US could also support Bitcoin for the rest of the year. Markets could price in expectations of an earlier rate cut if President Donald Trump appoints a replacement for Fed Chair Jerome Powell. Additionally, the GENIUS Act, a stablecoin bill expected to pass Congress, could boost interest in Bitcoin, especially among individual investors. Kendrick noted that some investors may be concerned about Bitcoin’s four-year cycle toward the end of September. Noting that previous cycles have seen prices fall about 18 months after each halving, Kendrick said institutional inflows could offset those effects this time around. Bitcoin could reach $135,000 by the end of the third quarter and $200,000 by the end of the year, according to Standard Chartered’s estimate. “Once the market gets over these cyclical fears, we expect Bitcoin to continue its rise,” Kendrick said. *This is not investment advice. Continue Reading: How Will Bitcoin Perform in the Second Half of the Year? Will It Rise or Fall? Experts Answer
Elon Musk announced the formation of a new political party on Sunday, telling one of his followers on X that it will embrace Bitcoin as “fiat is hopeless.”
On July 7, official reports confirmed that the Monochrome Spot BTC ETF (IBTC) in Australia increased its Bitcoin holdings to 937 BTC as of July 4. This accumulation reflects a
Two men who admitted running a crypto scheme that defrauded 65 investors have both been sentenced to over five years in prison.
The post Toncoin’s Climb Stays Strong, but All Eyes Are Turning to Lightchain AI Ahead of Its July Debut appeared first on Coinpedia Fintech News Toncoin has been making waves in the cryptocurrency market, maintaining a steady climb that has captured traders’ attention. Yet, as July approaches, focus is shifting toward the highly anticipated debut of Lightchain AI . Promising innovative advancements poised to disrupt the industry, Lightchain AI’s launch has investors buzzing with excitement. With the potential to redefine trading strategies and market dynamics, the cryptocurrency world is holding its breath to see what unfolds. Stay tuned as we examine Toncoin’s strength and the growing momentum behind Lightchain AI’s groundbreaking debut. Toncoin’s Upward Trend- What’s Fueling Its Sustained Growth Toncoin (TON) is experiencing a notable upward trend in 2025, driven by several key factors: Whale Accumulation- Over 68% of Toncoin’s total supply is held by whale wallets, with significant accumulation observed in 2024–2025. This concentration suggests confidence among large holders and potential for price appreciation. Telegram Integration- Toncoin’s deep integration with Telegram, boasting over 900 million monthly active users, facilitates seamless Web3 adoption. Features like in-chat transfers, TON Space wallet, and Telegram Mini Apps enhance user engagement. Technical Indicators- A breakout above the $3.00 resistance level, accompanied by consistent trading volume, could propel Toncoin toward the $4.00 mark by Q3 2025. Lightchain AI’s July Debut- Why Traders Are Taking Notice Now Lightchain AI presents the most interesting mainnet launch at the end of July 2025 — and it doesn’t go unnoticed among traders too. With it’s stable tokenomics (controlled inflation & burn) combination, extensions for scarcity combined with the rewards of validators and contributors are made fairly to stakers – perfect for holders with vision! There is also an anticipation regarding the project’s zero-knowledge machine learning (zkML) development, which opens the doors for private, on-chain AI validation—an aspect that can powerfully drive up on-chain utility and demand. And behind the scenes the Developer Portal and simple to use SDKs are already catalyzing an ecosystem of dApps and tooling. With powerful economics design, upcoming utility via zkML and growing developer traction, Lightchain AI is creating the sort of momentum that traders love to see with a project leading up to a big launch. Mark Your Calendar- Mainnet Launch Slated for July 2025 Mark your calendar—Lightchain AI’s main net is slated for late July 2025! With all presale stages successfully completed, the project is now open for investors seeking next-gen blockchain innovation. A key focus is addressing bias in AI models; decentralised, federated learning, and diverse data contributions help mitigate skewed outcomes. The platform’s clear workflow and data flow prioritise privacy and efficiency, secure task distribution, cryptographic verification, and off-chain storage, ensuring smooth model training and inference. With funding secured and a robust technical foundation, Lightchain AI offers a compelling, responsible entry point into decentralised intelligence. https://lightchain.ai https://lightchain.ai/lightchain-whitepaper.pdf Tweets by LightchainAI https://t.me/LightchainProtocol
UAE authorities have officially denied claims that Toncoin (TON) holders can obtain a golden visa through staking, clarifying immigration policies linked to digital assets. The joint statement from ICP, SCA,