Senator Cynthia Lummis (R-Wyo.) is making a strong move to reshape how the U.S. taxes crypto by pushing to include key digital asset provisions in the Senate Republicans’ 2025 tax-and-spending bill.
A longtime Bitcoin supporter, Lummis is working with Senate Finance Chair Mike Crapo (R-Idaho) to fold in parts of her bipartisan crypto regulation bill, co-authored with Sen. Kirsten Gillibrand (D-N.Y.). Her proposals aim to close tax loopholes and support the crypto industry – though not everyone is on the same page.
Crypto Wash-Sale Rule Could Raise Billions
One of Lummis’s main proposals is to apply the wash-sale rule to crypto. This would stop investors from selling their digital assets at a loss and quickly buying them back to reduce their tax bills – a common tactic that isn’t currently restricted for crypto.
Lummis told Semafor, “This bill is the right place to fix crypto taxation,” but skeptics, including Gillibrand, call it “premature,” citing risks of rushed policy.
Bitcoin Miners May Catch a Break
Another part of Lummis’s plan would exempt Bitcoin miners from reporting capital gains and losses. This would ease the reporting burden on miners, who often face confusing tax requirements despite playing a major role in the crypto ecosystem.
This proposal reflects Lummis’s ongoing support for the industry, but it’s expected to face resistance in a divided Senate.
Trump Weighs In on GOP Tax Bill
On Wednesday, members of the Senate Finance Committee, including Sen. Bill Cassidy (R-La.), met with President Donald Trump at the White House to discuss the bill.
According to Cassidy, Trump is focused on including “working account benefits,” adding more complexity to ongoing negotiations.
A Defining Moment for U.S. Crypto Policy
With the 2025 tax cuts set to expire soon, Lummis’s proposals could help set the direction for how digital assets are taxed and regulated going forward. If adopted, they could provide clarity to the crypto market while also boosting federal revenue.
But with mixed support – even among allies – the road ahead for these reforms remains uncertain.
The rise of Ethereum (ETH) price above $2.6k in the past 24 hours played a crucial role in the bullish recovery for the Binance (BNB) coin. According to crypto data from Coingecko, BNB price gained over 2 percent in the past 24 hours to trade about $687 on Tuesday, during the late North American trading session,
As a result, BNB regained a market cap of over $100 billion, with a 24-hour average trading volume of about $1 billion. The notable surge in crypto FOMO significantly helped BNB price to regain bullish sentiment amid the highly anticipated altseason.
BNB Rises on Favorable Fundamentals
The rise and adoption of the BNB chain by mainstream users has heavily bolstered the success of its decentralized financial products. For instance, the PancakeSwap (CAKE) has continued to record historical daily volume following the notable mainstream adoption of the ecosystem’s tokens and memecoins.
According to market data from Defillama, the BSC network had a total value locked of about $6.5 billion and a stablecoins market cap of around $10.1 billion. Most importantly, the BSC chain recorded a daily average active users of about 2 million.
Short Term Targets
BNB price has gradually followed Bitcoin (BTC) price action in the past two months. In the past three weeks, BNB price has consolidated in a symmetrical ascending triangular pattern, with a crucial resistance level around $687.
As a result, it is safe to assume that the BNB bulls have been gaining more ground over the sellers in the past.
With Bitcoin price on the cusp of a major rally, catalyzed by heightened demand from institutional investors, BNB price is well positioned to rally beyond $687. Moreover, the four-hour MACD line remains above the zero line amid the growing bullish histograms.
As the four-hour Relative Strength Index (RSI) works on piercing the 70 percent level, BNB price is aiming at rallying above $790 soon.
The post BNB Price Analysis and Short-term Forecast appeared first on Coinpedia Fintech News
The rise of Ethereum (ETH) price above $2.6k in the past 24 hours played a crucial role in the bullish recovery for the Binance (BNB) coin. According to crypto data from Coingecko, BNB price gained over 2 percent in the past 24 hours to trade about $687 on Tuesday, during the late North American trading …
Chainlink announced today that it’s partnering with Mastercard, allowing billions of cardholders to purchase crypto directly on-chain. The companies’ new infrastructure will indirectly interface clients with multiple DEXs.
In addition to these two leaders, several other companies, such as ZeroHash, Swapper Finance, Shift4, and XSwap, are joining the endeavor. Uniswap has agreed to participate as a DEX directly interfacing with the platform.
By partnering with Mastercard, Chainlink will be able to turbocharge this overarching strategy. Essentially, this will combine an industry standard for interoperability with billions of potential users:
We’re excited to announce that Chainlink and @Mastercard have partnered to enable billions of cardholders to purchase crypto directly onchain.https://t.co/1pKz03jQ7t
To be clear, these companies are formidable, but Chainlink and Mastercard can’t build this kind of infrastructure on their own.
The two firms have partnered with several ancillary companies, like Swapper Finance, Shift4, Zerohash, and more to provide liquidity, execute smart contracts, power the underlying platform, and perform other such functions.
As a result, these companies’ combined result is quite formidable. As Chris Barrett, Chainlink’s Head of Communications, put it, Mastercard clients will be able to integrate with major decentralized exchanges.
Uniswap is already participating in the program. This will give Mastercard’s enormous user base access to a very broad range of available cryptoassets.
Chainlink’s Mastercard Infrastructure. Source: Chris Barrett
Mastercard has ventured into the crypto industry before, but this Chainlink partnership is on a whole new level. Raj Dhamodharan, the firm’s Executive Vice President of Blockchain and digital Assets, called the new infrastructure a way to “revolutionize on-chain commerce” and drive global crypto adoption.
Although Chainlink’s LINK token isn’t directly involved in the Mastercard partnership, it still stands to benefit. Despite hitting a monthly low earlier this week, the token’s price has skyrocketed in the last few hours, recovering around 8% since yesterday.
The platform for this massive crypto expansion is already live, allowing users to experiment with this new infrastructure layer. Chainlink and Mastercard have their work cut out for them, setting some extremely ambitious goals.
If even a fraction of the credit card company’s users participate in the program, it could enable truly massive crypto adoption.
Speculation about Nvidia adding Bitcoin to its treasury reserves has surfaced recently. These unconfirmed reports lead to questions about the potential for increased institutional adoption of Bitcoin and the possible performance of such a move for Nvidia, whose stock value has fallen considerably this year.
BeInCrypto interviewed representatives from Banxe, FINEQIA, CoinShares, Bitunix, and Acre BTC to discuss Bitcoin’s potential benefits for Nvidia and explore whether such an investment would ultimately benefit the company in the long run.
Rumors of Nvidia’s Potential Bitcoin Investment
Over the past few weeks, several reports have surfaced across social media suggesting that Nvidia, a pioneer in GPU-accelerated computing, is considering adding Bitcoin to its balance sheet.
These reports remain purely speculative at the time of press, given that Nvidia has not made any official statements on the topic. When BeInCrypto reached out for clarification, an Nvidia spokesperson declined to comment.
Even as rumors, these reports highlight the significant impact of such a decision on Bitcoin’s public perception. Given Nvidia’s current economic circumstances, marked by a substantial drop in stock value, an announcement of this nature would not be completely unexpected.
As such, Nvidia’s stock price has taken a hit. According to recent reports, Nvidia stock has fallen 35% since its latest price peak in January.
Nvidia’s stock reacted especially poorly to the news that China’s Huawei Technologies is testing a new AI chip potentially more powerful than Nvidia’s H100.
Given these circumstances, Nvidia can mitigate current economic challenges by diversifying its treasury assets.
Should Nvidia Consider Adding Bitcoin to Its Balance Sheet?
Such a move would significantly alter how other institutional investors view Bitcoin, potentially encouraging more companies to adopt a similar strategy. The crypto community would likely celebrate the news, believing it would solidify Bitcoin’s legitimacy as an asset class.
However, the extent to which Nvidia requires Bitcoin for stability remains controversial.
Risks of Adding Bitcoin to Nvidia’s Treasury
As it is, Nvidia already has other strategies that help the company hedge against volatility and inflation. Adding Bitcoin into the mix may seem excessive.
This becomes especially true when considering just how volatile Bitcoin itself can be. Though the asset can generate significant gains during bullish periods, the losses it can cause are equally severe.
As such, Bitcoin might not be the natural choice to defend Nvidia from its current stock declines. An investment of this kind would need to reflect a long-term strategy rather than an impulse decision.
Would BTC Even Make a Difference on Nvidia’s Share Price?
Bitcoin has demonstrated high returns over the long term, though with considerable volatility. For companies able to withstand the associated risks, including large price fluctuations, it offers the potential for significant future profits.
With its substantial financial resources, Nvidia could absorb Bitcoin’s volatility without a major impact on its balance sheet. In this sense, the company has little to lose, but also little to gain.
Ultimately, Nvidia’s decision to invest in Bitcoin hinges on timing and urgency, particularly given recent developments that have alleviated some pressures on the company.
Easing Export Restrictions: A Boost for Nvidia
Last week, the Trump administration announced its plans to roll back certain Biden-era export restrictions on advanced semiconductor chips.
Biden’s ‘AI Diffusion Rule’ established these restrictions to enhance US technological leadership by preventing advanced chips from being diverted to countries of concern, especially China. Given that China was Nvidia’s main buyer, the rule significantly hampered its sales.
A rollback would be highly advantageous for Nvidia’s sales, especially amid this new wave of chipmakers.
Similarly, the recent US-China tariff pause led to Nvidia’s stock price rise. Despite its temporary nature, the news is a positive sign for the company, promising reduced uncertainty and potential gains in sales and supply chain stability.
Considering these developments, adding Bitcoin to Nvidia’s balance sheet may no longer be urgent. If Nvidia were to make such a decision out of haste, it might also drive away traditional investors and long-time buyers.
Many areas of traditional finance remain highly skeptical of Bitcoin due to its short history and highly volatile nature. If Nvidia adds Bitcoin as a treasury asset, traditional investors might view it as a poor decision, potentially alienating long-time clients.
