The U.S. House of Representatives is moving toward a clearer tax framework for digital assets, with lawmakers reviewing seven draft bills that could reshape how everyday crypto activity is taxed.
u.s. lawmakers push digital asset tax clarity
Proposals under discussion would exempt small transactions from capital gains taxes, including stablecoin trades under $200 and crypto gains below $300. The drafts also suggest that income from staking or mining would only be taxed when assets are sold, while digital asset lending would not count as a taxable event.
Lawmakers are also considering applying traditional financial rules, such as wash sale restrictions, to digital assets. Certain regulated stablecoins could be treated more like cash, removing the need to track minor fluctuations. The effort signals a broader attempt to integrate digital assets into the existing financial system and reduce friction for everyday use.
crypto market posts broad gains
Digital asset prices moved higher, led by smaller tokens. ZEC surged 22.31% to $431.7, while JTO jumped 24.75% and WLD gained 17.19%.
Major cryptocurrencies including Bitcoin, Ethereum, Solana, and BNB rose between 3% and 7%. Meme tokens such as MIM and BOUNTREE also saw strong on-chain activity, ranking among the most favored by traders.
bitcoin nears potential bottom range
Glassnode co-founder Rafael said Bitcoin, currently trading near $62,000, has fallen nearly 50% from its peak and may be approaching a bottom zone between $46,000 and $54,000. He noted that a drop below $40,000 would be a rare "tail event."
The current drawdown is significantly shallower than previous cycles, which saw declines of as much as 77% to 85%, suggesting a more resilient market structure this time.
crypto-linked stocks and market sentiment
Crypto-related equities posted moderate gains alongside digital assets. SUIG.M rose 5.98%, VIVO.M increased 4.13%, and MRVL.M climbed 3.61%.
At the same time, trader Eugene said he has temporarily exited the digital asset market, citing an unstable correlation between Bitcoin and Strategy (MSTR) stock. He indicated he would not return until the relationship weakens.
zec security concerns resurface
Dragonfly Capital partner Haseeb said public understanding of a recent Zcash security issue remains incomplete. He explained that any tokens created through the vulnerability would become traceable once moved to transparent addresses. Despite concerns, he confirmed the firm continues to hold ZEC.
geopolitics and macro developments
Outside digital assets, Iran’s transit fees for the Strait of Hormuz have dropped sharply, now ranging from $12,000 to $16,000 per vessel depending on cargo and flag. This marks a steep decline from earlier reported levels of up to $2 million during heightened tensions.
The U.S. Central Command said its Fifth Fleet base in Bahrain remains intact, denying reports of damage and confirming that Iranian missiles and drones were intercepted without American casualties.
In South Korea, authorities launched an emergency probe into foreign exchange markets as the won faced pressure. Officials warned of penalties for illegal trading activity.
ai policy and global regulation efforts
U.S. officials have begun early discussions with major AI companies on potential government equity participation to broaden the economic benefits of the technology. OpenAI CEO Sam Altman has reportedly engaged in talks on voluntary share transfers as part of the concept.
Meanwhile, China’s State Council issued new rules to tighten oversight of private funds, targeting illicit lending and disguised debt investments while pushing for stronger administrative regulation across the industry.
Former President Donald Trump said there are no immediate plans to withdraw U.S. troops from the Middle East and estimated that Iran retains roughly 21% to 22% of its prewar missile stockpiles. He also stated that there is currently no justification for the Federal Reserve to raise interest rates.
Curious how evolving U.S. rules reshape crypto? Deepen your understanding in this detailed regulation guide today.
Disclaimer: The content on this page is provided for general informational purposes only and does not represent the views or financial advice of Toobit. We make no guarantees regarding the accuracy or completeness of this information and shall not be held liable for any errors, omissions, or outcomes resulting from its use. Investing in digital assets involves risk; users should independently evaluate their financial situation and the risks involved. For further details, please consult our Terms of Service and Risk Disclosure.
