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Some big news is coming from the stage of the Consensus Toronto 2025 event. Bo Hines, a top advisor from the White House, says President Trump is still planning to sign important crypto laws by August. These include rules for stablecoins and how the crypto market should work.
Let’s dive in detail!
Crypto Bills Nearing: August Deadline
Speaking at the Consensus 2025 event, Bo Hines shared a hopeful update on crypto progress in the U.S. shared a hopeful update on crypto progress in the U.S. He said that despite political delays and ongoing talks, the country is getting closer to building a strong foundation for crypto innovation.
He said that both stablecoin and market structure bills are still under negotiation, and eventually, a stronger digital asset strategy plan that includes Bitcoin reserves is on the table.
While nothing is final yet, there’s strong optimism that a deal can be reached before Congress breaks in August, Hines said.
Clearing the Air on Trump’s Crypto Ties
Further addressing concerns about conflicts of interest, Hines made it clear that President Trump’s family has every right to participate in the digital asset space as private individuals. He even argued that their involvement shows the financial potential of crypto.
“If you’re a good business person, you should be looking at digital assets,” he said. “This is the next generation of finance.”
Lawmakers Eye Real Crypto Rules
While speaking at the consensus event, U.S. lawmaker Rep. French Hill admitted the Trump coin hype has made bipartisan talks harder. But he also insists there’s still real progress happening behind closed doors.
Despite the noise, both Republicans and Democrats seem to agree that the U.S. can’t afford to fall behind in the global crypto race.
If things go as planned, America might finally have a real crypto framework, and it could be just weeks away.
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FAQs
Crypto is treated as property; report capital gains/losses on Form 8949 and Schedule D. Airdrops/hard forks are taxable income.
Yes, the SEC regulates crypto as securities (e.g., tokens from ICOs), enforcing compliance under federal securities laws.
VASPs must share sender/recipient info for crypto transactions over $3,000 to combat money laundering, per FinCEN.
