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Crypto

Bitcoin slides despite U.S. stock market records as miners shift to AI and crypto bills stall

Bitcoin has continued to weaken even as U.S. stock markets rise, raising questions about its recent co-movement with traditional markets. It failed to break the $78,000 resistance level and fell further. Miner selling and a shift of funds into AI data centres and high-performance computing are cited as factors, along with a large transfer by Trump Media & Technology Group. Delays in U.S. crypto legislation and fading liquidity expectations also weigh.

Crypto

U.S. unveils crypto tax overhaul proposal, sparking controversy over Bitcoin exclusion

The United States is moving to overhaul its cryptocurrency tax rules, with two members of the U.S. House of Representatives releasing a draft Digital Asset PARITY Act. The proposal would clarify tax treatment by amending the Internal Revenue Code. It would exempt capital gains on dollar-pegged stablecoins when price moves stay within 1 percent and waive tax and reporting duties for stablecoin transactions of $200 or less, though an annual cap is undecided. Bitcoin would not qualify for the exemption.