Bitcoin News Today: U.S. White House Report Proposes Tax Deferral for Bitcoin Miners

A new U.S. White House report has drawn attention for a potentially transformative tax policy change for Bitcoin miners. The 168-page document suggests that Bitcoin mining rewards should be taxed only when sold, not at the time they are mined, aligning the treatment with how gold is handled [1]. This approach would eliminate the current requirement for miners to pay taxes immediately upon receiving Bitcoin, which often creates a mismatch between tax liability and actual cash flow [2].

Industry players, including major mining firm BitFuFu, have highlighted that such a change could significantly reduce the barriers to entry for new miners, especially as U.S. energy costs remain relatively competitive despite rising tariffs on imported mining hardware [3]. The proposed tax deferral could enhance profitability for existing miners and attract long-term investment, potentially fueling a mining boom.

The report also includes the idea of establishing a strategic U.S. Bitcoin reserve, managed by the Treasury and composed of confiscated digital assets. While the plan lacks specific implementation details, it signals a growing recognition of Bitcoin’s potential as a long-term asset class by U.S. authorities [4].

Amid this regulatory optimism, Bitcoin’s short-term price dynamics remain mixed. Spot Bitcoin ETFs in the U.S. have seen $196 million in outflows over the past four trading days, with over $500 million leaving major funds since late July [5]. This trend is attributed to weak economic data, including a July ISM Services PMI reading of 50.1, which barely avoided contraction, and disappointing nonfarm payrolls. Additionally, renewed discussions around Trump’s potential tariff plans on tech imports have created a risk-off environment, leading to reduced appetite for volatile assets like Bitcoin [6].

However, regulatory clarity is starting to emerge in key markets. Japan’s SBI Holdings recently filed to launch a Bitcoin and XRP ETF, which could be the first in Asia to include both assets and may open the door to broader adoption [7]. In the U.S., the SEC has ruled that liquid staking does not constitute a securities offering, clearing a legal hurdle for Ethereum staking protocols [8]. SEC Chair Paul Atkins has also launched “Project Crypto,” a new initiative under the Trump administration aimed at fostering a more supportive regulatory framework for digital assets [9].

Technically, Bitcoin is trading near $114,240, just above the 50-period EMA on the 2-hour chart. After testing support at $112,641, buyers have pushed the price higher, but it remains below a descending trendline drawn from the July 31 peak. The critical resistance level is $115,043. A breakout above this level could lead to a rally toward $116,915 and $118,878, while a failure to clear this resistance may result in a pullback toward $112,640 or even lower supports at $110,782 and $109,075 [10].

Analysts are watching for confirmation signals such as a bullish engulfing candle or an RSI reading above 60 to validate a potential upward move [11].

In parallel, Bitcoin Hyper ($HYPER), a BTC-native Layer 2 platform powered by the Solana Virtual Machine (SVM), has raised over $7.3 million in its public presale. The project aims to combine Bitcoin’s security with Solana’s speed, enabling fast, low-cost smart contracts, dApps, and meme coin creation. With a target of $7,502,850 and a current price of $0.01255, the token is gaining traction as a potential Layer 2 contender in 2025 [12].

Source: [1] Cryptonews [https://cryptonews.com/news/bitcoin-price-prediction-buried-tax-rule-in-white-house-report-could-spark-mining-boom-could-btc-hit-500000-in-2025/](https://cryptonews.com/news/bitcoin-price-prediction-buried-tax-rule-in-white-house-report-could-spark-mining-boom-could-btc-hit-500000-in-2025/)

[7] Cointelegraph [https://twitter.com/Cointelegraph/status/170****029512871936](https://twitter.com/Cointelegraph/status/170****029512871936)