Today's Cryptocurrency Industry News (2025-01-01)

Here is the latest industry news in the crypto world for January 1, 2025:

IRS Issues Temporary Relief on Crypto Cost - basis Method Changes

The IRS will allow crypto holders on centralized exchanges to bypass strict tax regulations in 2025. The new rules could have been "disastrous" for crypto taxpayers during the bull market, a crypto tax executive said.

Michael Saylor's Bitcoin Poll Hints at Explosive Growth

Michael Saylor's poll of 93,456 votes reveals surging confidence in Bitcoin, with most participants predicting significant long - term returns.

Telegram CEO Flags Rising EU Censorship While Russia Preserves Open Access

Russian Telegram users now have more media freedom than Europeans, as EU censorship grows, raising alarms over the future of free speech.

Russia Bans Crypto Mining in 10 Regions

Starting from January 1, 2025, Russia will ban crypto mining in 10 regions (Dagestan, Ingushetia, Kabardino - Balkaria, Karachay - Cherkessia, North Ossetia, Chechnya, Donetsk and Luhansk People's Republics, as well as Zaporizhzhia and Kherson Oblasts) for six years.

Czech Republic Approves Capital Gains Tax Exemption for Bitcoin

Bitcoin held for over three years will now be exempt from capital gains tax in the Czech Republic, following an amendment approved on December 6, 2024. The new rule takes effect on January 1, 2025, introducing a favorable tax framework for crypto investors.

Central Banks Set Standards on Banks' Crypto Exposure

A global standard for banks' exposure to crypto assets has been endorsed by the group of central bank governors and heads of supervision (GHOS) of the Bank for International Settlements (BIS). The standard, which sets a limit of 2% on crypto reserves among banks, must be implemented on January 1, 2025.