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📰 TOP NEWS
House Ways and Means Committee floats seven crypto tax proposals ahead of June 9 hearing
As stablecoin and market structure legislation advances in Washington, attention is turning to how digital assets should be taxed, with the House Ways and Means Committee releasing seven discussion drafts covering crypto taxation ahead of a hearing this week. The proposals would address how to tax stablecoins, staking, and mining, while also setting de minimis limits for network fees and simplifying accounting for gains and losses. The drafts build on earlier legislative efforts, including Sen. Cynthia Lummis's bill to exclude gains or losses under $300 from taxable events and declare digital asset lending non-taxable, and the bipartisan Digital Asset PARITY Act introduced in December, which would exempt stablecoin transactions under $200 from capital gains taxes to reduce compliance burdens on everyday purchases. The Digital Chamber CEO Cody Carbone welcomed the proposals, calling next tomorrow’s hearing "a welcome opportunity to refine these proposals and keep the bipartisan tax effort moving forward." Crypto taxes have long been a source of confusion for investors, with the IRS rolling out a new reporting system this past tax season that added to that complexity.
Crypto treasury companies face billions in unrealized losses as market slumps, HYPE holders buck the trend
A sharp downturn across crypto markets in the first half of 2026 is exposing a deepening divide among digital asset treasury companies, with virtually all major bitcoin, ether, and Solana treasury firms now sitting on significant unrealized losses while Hyperliquid treasury companies remain the lone bright spot. Strategy, the largest corporate bitcoin holder and the firm that popularized the treasury model, is carrying more than $12.8 billion in unrealized losses after its average acquisition cost climbed to roughly $75,000 per bitcoin, with its stock MSTR falling over 11% on Friday to around $116. Japan-based Metaplanet is similarly under pressure, carrying nearly $1.7 billion in unrealized losses with its US-listed shares hitting their lowest level since adopting the strategy in 2024. Ether treasury firms have been hit hard as ETH fell below $1,550, its lowest level in more than a year, with Bitmine carrying an estimated $10.5 billion in unrealized losses, while Sharplink faces a paper loss of around $1.8 billion on its 869,000 ETH. Solana treasury firm Forward Industries is facing approximately $1.2 billion in unrealized losses as SOL fell below $65. Against that backdrop, Hyperliquid treasury companies are bucking the trend, with Hyperliquid Strategies sitting on more than $1.1 billion in unrealized gains on its roughly 23.7 million HYPE holdings despite the token's recent pullback from an all-time high above $74.
White House crypto adviser pushes Clarity Act as pro-enforcement bill amid narrowing window for passage
White House cryptocurrency adviser Patrick Witt defended the Clarity Act as a "pro-regulatory, pro-enforcement bill" during a Blockchain Association town hall, pushing back against law enforcement groups who argue the legislation falls short on financial crime provisions. The call also featured Republican Sen. Cynthia Lummis and Rep. Tom Emmer, who warned that if the bill is not passed this year it may not be considered until 2030. "Money is moving faster globally, and if we are not setting standards as the United States, then we are going to be receivers of somebody else's playbook," Witt said. The bill faces a narrow window for passage ahead of midterm elections, with multiple outstanding hurdles including a standoff between banks and the crypto industry over stablecoin rewards, concerns over President Trump's personal crypto ventures, and a debate over anti-money laundering provisions and the inclusion of the Blockchain Regulatory Certainty Act, which would clarify that non-custodial developers are not money transmitters. Democratic Sen. Catherine Cortez Masto voted against the bill last month, arguing it "undermines law enforcement's ability to trace illicit finance and recover victims' money." Witt said lawmakers have responded to those concerns by adding new sections to the bill ahead of last month's Senate Banking Committee vote.
Senate Republicans press bank regulators to overhaul capital standards for digital assets
A group of Senate Republicans led by Sen. Cynthia Lummis sent a letter to the Federal Reserve, FDIC, and Office of the Comptroller of the Currency urging regulators to develop a fresh capital framework for digital assets, criticizing existing Basel Committee standards that assign a 1,250% risk weight to digital assets. Risk weight determines how much capital a bank must hold against a given asset, meaning the current standard effectively discourages banks from holding crypto on their balance sheets. "Any proposed capital treatment of on-balance sheet digital asset activities should accurately reflect the opportunities and risks of digital assets — and be based on, to the extent possible, a technology-neutral approach that gives banks the authority to participate meaningfully in digital asset markets," the lawmakers wrote. The letter also references a joint statement from March in which the FDIC, Federal Reserve, and OCC clarified that tokenized securities should generally receive the same capital treatment as their non-tokenized equivalents, arguing that principle "should apply consistently — including to other digital assets." The push comes as Congress considers the Clarity Act, which would broaden banks' ability to engage in on-balance-sheet digital asset activities and will, the senators said, "undoubtedly require capital guidance."
🎟️ EVENT OF THE WEEK
ETHConf 2026 NYC
THConf is a 3-day event for founders, industry leaders, and builders who are excited about the possibilities of building on top of Ethereum.
Topics:
Stablecoins: Latest on stablecoin issuance, integrations, and global adoption
DeFi & Payments: Building decentralized protocols and payment systems for everyone
Protocol Updates: Latest Ethereum protocol improvements, roadmap updates, and upgrades
Infrastructure: Scaling onchain infrastructure for global adoption and mass usage
Institutional Adoption: Fintech integrations, future of banking, and traditional trading
Staking & Yield: Staking mechanisms, yield strategies, and validator economics
Digital Asset Policy: Regulatory compliance, policy frameworks, and legal considerations
AI Onchain: AI integration with onchain and offchain data, contracts, and tooling
Date Jun 8-10 2026
💬 EXPERT OPINION
Technology moves faster than government, and we cannot let policy be the bottleneck for innovation.”
📊 METRIC OF THE WEEK
Our researchers designed this metric with ❤️
GLOSSARY CORNER The Parity Act is a legal safeguard that eliminates double standards between two groups, services, or situations of equal value. Its primary purpose is to establish absolute equality by putting an end to unfair distinctions within the system. | EDITOR’S CHOICE |
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