2026-01-16 05:23:07

Bitcoin hit a new high of $97,000 per coin during yesterday's trading session. The logic behind this rally is actually quite clear — global regulation is undergoing a structural shift, from suppression to embrace, from ambiguity to transparency. Institutional funds are also starting to enter with real money.

Let's first look at the major moves in the US. The Federal Reserve announced the repeal of the 2023 crypto restriction order. What does this mean? Banks can now openly custody BTC, facilitate trading, and even issue related wealth management products. Giants like JPMorgan and Bank of America have already assembled crypto teams. Industry estimates suggest this could bring in hundreds of billions in capital inflows. But risks must also be recognized — the planned "Digital Asset Market Clarity Act" review scheduled for January 15 has been postponed. Exchanges like Coinbase feel the rules are flawed and have withdrawn from negotiations. The core disagreements revolve around how the SEC and CFTC will divide responsibilities and whether to impose restrictions on stablecoin reward mechanisms.

Taxation is also taking it seriously. Starting the 2026 tax season, Form 1099-DA will be used to report users' trading gains to the IRS. Here's a pitfall — if you haven't clearly reported your cost basis, you might be taxed as if your cost was zero, which could lead to higher taxes. Meanwhile, CRS and CARF mechanisms are also being activated, with tax information on cross-border transactions automatically exchanged among 48 jurisdictions. In other words, there's no place on Earth to hide money anymore.

Over in Europe, the UK is moving along the path of institutional compliance, with a preliminary framework already taking shape. Regulations are becoming smarter — not stifling innovation nor allowing unchecked risks. This dual logic of "regulation + openness" is spreading globally. Crypto assets are transitioning from the fringe to the mainstream of the financial system, which is the deep driver behind BTC's price appreciation.

BTC0,52%

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OPsychology

· 01-18 16:55

97k and you're already bragging? Wait, they really haven't thought through the tax part. Zero-cost taxation has caused many people to fall into the trap.

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PrivacyMaximalist

· 01-16 12:11

97k is just the beginning; the real baptism is still to come. The statement that the Earth can't hide money anymore hits the nerve. Once CRS and CARF are activated, everything becomes fully transparent. We need to quickly reconcile the cost price. What does the formation of a crypto team by banking giants indicate? This time, it's truly different. Coinbase withdrawing from negotiations is quite interesting, indicating that the SEC's framework indeed has issues. In 2026, Form 1099-DA must be closely monitored; zero-cost taxation can really trap people to death.

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ApeWithNoChain

· 01-16 05:52

97k isn't much, the key is that those banks are finally not pretending anymore. JPMorgan forming a crypto team is more valuable than anything else. There's no hiding money on Earth anymore, haha. Those guys trying to evade taxes better be careful. However, Coinbase withdrawing from negotiations indicates that the rules are not finalized yet. Don't celebrate too early. Taxation is indeed a big pit. Declaring the wrong cost basis can lead to zero-cost taxation, which is really harsh. Wait, has the UK framework really taken shape? It feels like Europe has been dragging its feet. Can hundreds of billions of dollars really come in, or is it just another boastful prediction? 97k isn't enough to move the market, it's a bit dull. It depends on when institutions will really start pouring money in.

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AirdropHunterWang

· 01-16 05:44

97K is really coming, but I glanced at that tax form and feel like I need to settle a clear account with the IRS...

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LiquidityWitch

· 01-16 05:28

97k is nothing, the key is that banks are starting to play, really taking off The phrase "can't hide money on Earth" is spot on, the tax authorities have really taken action Coinbase backing out of negotiations? These exchanges really dare to do it, they have guts I need to prepare that form for 2026 in advance, the cost price must be clearly stated The UK framework sounds pretty good, regulation + openness should be like this The Federal Reserve lifting restrictions was a clever move, banks are now officially acting as custodians Institutions are pouring in real money, this wave of market has a solid foundation CRS and CARF global exchange? No more hiding from taxes, haha Regulation has become smarter, which is actually better for us, no longer as rigid as before JPMorgan Chase forming a crypto team, what does this mean? Mainstream adoption is really here

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