Quick Take

• The White House recently released a 168-page report outlining recommendations for how crypto should be regulated.
• One underreported tax section could be a game-changer for bitcoin miners, with implications that could snowball into broader mainstream adoption, according to BitFuFu.

Buried within the White House's recent 168-page crypto report last week was a tax section on bitcoin mining that could have substantial implications for the industry and broader mainstream adoption of the asset in the long term, according to BitFuFu.

The White House's Working Group on Digital Asset Markets released the long-awaited report on Wednesday, outlining recommendations to usher in a "golden age of crypto."

The group's members, including Treasury Secretary Scott Bessent and SEC Chair Paul Atkins, called on Congress to build on the Digital Asset Market Clarity Act recently passed by the House. Additionally, they urged swift implementation of the GENIUS Act, which President Trump recently signed into law to establish federal rules for stablecoins, and highlighted the need to modernize crypto tax laws and reduce compliance burdens.

...read more at theblock.co