• Government scrambling to enact crypto tax laws. SEC is focused on Stablecoins while Congress aims to treat cryptos like stocks. Crypto staking and lending services are likely to fall under the SEC’s jurisdiction. Congress is trying to eliminate the ability for crypto investors to take tax losses on transactions, according to the draft language of the $3.5 trillion reconciliation bill in the House (which may or may not go through, as we mentioned here). For example: if an investor bought $10,000 worth of Bitcoin (BTC), and sold it at a loss, the investor would have to wait 30 days to buy it again to be eligible for a tax write-off. They’re pushing hard for control, as we expected. Source.

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