The start of July brought several positive developments for the crypto industry. We break down everything investors need to know about the latest US regulatory shifts.
President Donald Trump has come out against taxing digital assets, saying bitcoin should not be subject to capital gains tax when used as a payment method. The SEC has promised a new “neutral” approach to crypto ETFs and acknowledged past mistakes.
Hot topic: Bitcoin Tests $62K on Weak US Jobs Data — Short Liquidations Hit $450M
At the time of publication, bitcoin (BTC) trades at roughly $61,935, up just over 1% on the day. The leading cryptocurrency briefly broke above $62K earlier.
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‘Crypto Is a Big Deal’: Trump Says Bitcoin Shouldn’t Be Taxed Like Stocks
President Trump told CNBC that bitcoin should not be subject to capital gains tax when used for payments like ordinary money. He gave buying coffee as an example:
“If bitcoin is money, then paying with it shouldn’t trigger a tax liability.”
Trump emphasized that cryptocurrencies play a serious role today and that the US needs to stay ahead.
“In everything we do, we want to be first,” he said, calling digital assets a strategic technology race.
The comments came as his annual financial disclosure was published, showing significant crypto income. Trump clarified that he doesn’t manage day-to-day business:
“My kids now run the business. I’m not involved. Personal managers handle my investments.”
Read more: Donald Trump Made $1.4B from His Own Crypto Holdings — What’s Next for Trump Crypto Profits?
SEC Acknowledges Crypto ETF Mistakes, Announces ‘Neutral Approach’ to New Products
SEC Division of Investment Management Director Brian Daly admitted in an interview that the regulator “handled crypto ETFs poorly.” He said the SEC got dragged into lawsuits and lost industry trust–and is now trying to restore it through more predictable, transparent work.
“The SEC’s job is not to ban risky ideas just because they seem unusual, but to ensure quality disclosure, legal products, and a clear process for issuers and investors,” Daly said.
The SEC is preparing a request for comment on new U.S. spot crypto ETFs, including prediction markets, crypto products, leveraged funds, and private asset ETFs. The regulator wants a single framework for all complex products, neutral to asset type–replacing the current model of reacting separately to each new asset class.
Read more: What Is Polymarket? The Beginner’s Guide to the Prediction Market Everyone Is Talking About in 2026
Daly also noted the ETF market is seeing unprecedented growth: about 1,800 filings this year, roughly 50% more than last year. The regulator is paying special attention to prediction market ETFs, which combine a new asset type, a new ETF structure, and interaction with the CFTC.
Trump’s remarks and the SEC’s comments are shaping a new regulatory backdrop for the US crypto industry. If the president’s position on bitcoin taxation is codified, it could significantly boost BTC’s appeal as a payment method. The SEC’s neutral ETF approach signals the regulator is open to innovative products without bias, potentially paving the way for new investment instruments.
Learn more: Top 5 Most Powerful Crypto Politicians Driving Global Cryptocurrency Policy and Regulation
