See also
The United States Infrastructure Bill, dated November 2021, brings with it a whole list of new rules that will be aimed at strict regulation and control of cryptocurrencies.
Any companies that transact more than $10,000 in bitcoin or other altcoins must now be transparent to the U.S. government.
One of the most important changes is contained in section 60501 of the US Internal Revenue Code, which states in black and white that cryptocurrencies are cash. Many crypto enthusiasts would not repeat the opposite and blame this statement from the section.
If you go back in time and look at the Bitcoin white paper dating back to 2008, then Bitcoin is considered a P2P electronic cash system. Also, the tax code sets out in great detail all the reporting requirements for financial transactions, the amounts of which exceed $10,000.
Transactions must collect data such as phone numbers, social security numbers, names, addresses, and anything else that might be important to the IRS. Also, companies will be required to inform the authorities about the details of these transactions, the amount and date of the transaction.
Failure to provide this information may result in criminal liability. Previously, any other foreign currencies in excess of $10,000 were already included in this bill, and now cryptocurrencies have been added here.
This regulatory bill can have very serious consequences for the cryptocurrency market, since the lion's share of transactions are now carried out intraday and on exchanges.
Now it will be impossible to hide all large transactions over $10,000 and not report them. All cryptocurrency companies and exchanges will have to clearly report to the state.
This will apply not only to cryptocurrencies, but also to DeFi products and NFTs. Bitcoin itself returned to the rate of $40,000 on Friday.
Mark Elenowitz, president of securities exchange services firm Horizon, is confident that Bitcoin will face various headwinds and will constantly go up as long as macroeconomic conditions remain the same.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Bitcoin – Friday, July 4, 2025. With an inflow into the Bitcoin ETF around USD$ 50 billion, it shows strong interest from investors, thus strengthening the legitimacy of this cryptocurrency
Ripple – Friday, July 4, 2025 Friendly regulatory pressure and the case with the SEC that seems to be stopped and open interest in the derivatives market that has jumped
Bitcoin has encountered significant resistance around $110,000, and it is unlikely to break through this level easily in the near term. Ethereum is also facing difficulties moving above the $2,600
Bitcoin and Ether have resumed growth, reaching new weekly highs amid favorable macroeconomic conditions. Over the past 24 hours, Bitcoin has risen by 2.5%, trading above $109,000. Ethereum also advanced
Bitcoin continued its correction and during today's Asian trading session reached a new level of $105,000. Ethereum also dropped significantly but was quickly bought back, stabilizing around $2,425. Meanwhile
Bitcoin has pulled back below the $108,000 level, while Ethereum briefly rose above $2,500 over the weekend before retreating again. Clearly, traders will be closely monitoring several upcoming macroeconomic data
Bitcoin and Ethereum continued to grow over the weekend, indicating steady demand even as the leading cryptocurrency approaches its historical highs. While everyone is anticipating that Bitcoin will soon break
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