Trump Signs Controversial Tax Bill Affecting Crypto Markets
The post Trump Signs Controversial Tax Bill Affecting Crypto Markets appeared on BitcoinEthereumNews.com.
Key Points: Trump signs tax bill, potentially influencing crypto investments. Narrow House vote; passed Senate earlier this month. Potential crypto market boost from institutional investments. The U.S. President Donald Trump signed the “Big and Beautiful” tax and spending bill into law on July 4, affecting the cryptocurrency market. The bill could reshape crypto investments and regulations, enticing institutional interest while sparking varied political reactions. Impact of Trump’s Tax Bill on Crypto Markets The U.S. House of Representatives passed the “Big and Beautiful” tax and spending bill, pushed by President Trump with a vote of 218-214. This action raised significant concerns due to cuts in federal aid and increased debt. Immediate responses include debates on tax cuts for the wealthy and businesses, with potential influences on Trump’s pro-crypto initiatives. Trump Media & Technology Group’s moves to capitalize on digital assets could stimulate these markets. Market response included discussions among traders about Housecoin, a politically themed token. The tax bill may drive further volatility in Bitcoin and other cryptocurrencies, influenced by Trump’s policy stance. Historical Trends and Market Analysis Post-2017 Tax Reforms Did you know? The 2017 U.S. tax reforms influenced risk sentiment in crypto markets, highlighting how shifts in significant U.S. policies can precede volatility in BTC and ETH prices. Bitcoin (BTC) is currently priced at $108,120.80 with a market cap of $2,150,328,138,634. It dominates 64.65% of the market and recently experienced a 37.94% price increase over 90 days. These statistics are attributed to CoinMarketCap. Bitcoin(BTC), daily chart, screenshot on CoinMarketCap at 03:02 UTC on July 6, 2025. Source: CoinMarketCap The Coincu research team anticipates that Trump’s tax bill, coupled with institutional interest, could lead to further investment in cryptocurrencies. Donald Trump, President, United States, stated, “We believe that a sound regulatory approach can lead to unprecedented opportunities for U.S. investors.”…
Filed under: News - @ July 6, 2025 3:06 am