Your Essential Crypto Round-Up
Regulators will be regulators with the USA first out of the box this week. Crypto week is fast approaching in the US Congress, and we are excited to see how this will impact the crypto market.
And, Bitcoin reached a new USD ATH this morning of $112,000!
In typical fashion, the crypto world celebrates with lots of fist pumping, Rocky style.
But as Bitcoin reaches a new USD ATH, one must ask, what’s next?
Or if you’re Bitcoin magazine, you ask. What price is next?
Let's dive in.
Top Gainers & Losers of the Week on the Wayex Platform
Guess who’s back? Back again.
No, it's not Eminem releasing a new album, but President Trump’s tariffs.
Announced yesterday, the tariffs are targeting countries in Asia, Europe and Africa.
The tariffs are also targeting key partners Japan and South Korea, with both countries slugged 25% on imports to America from August 1, 2025. Interestingly, both countries had their tariff rate increased from the original rate of 24%.
Some luckier countries have had their import tariff rates reduced. Countries like Cambodia (down from 49% to 36%), Laos ( from 48% to 40%) and Myanmar (from 44% to 40%).
The new rates of import tariffs are due to start on 1 August 2025.
The unlucky gang of 14 countries received a letter from the President regarding the reinstatement of tariffs.
Although no one was particularly surprised by the reinstatement of tariffs, it doesn't mean they have to like it.
Traditional markets have reacted to the news with what we can say is a resounding "meh". Whilst Trump’s announcement of the liberation day tariffs resulted in a Wall Street blood bath sell off, this time it has had the opposite impact. As a result of the news, markets extended their losses and stayed the course, according to CNBC.
In an article by ABC News, Andrew Hauser, Deputy RBA Governer was quoted as saying “it was unusual that the market has shrugged and moved on”.
However, over the past 24 hours, Bitcoin and Ethereum have been trading up, helping Bitcoin reach its latest USD all-time high of $112,000 USD.
Partner's tax tips from Syla
With the cold weather comes the cold blast of the ATO, as the country collectively groans while preparing to file taxes with the ATO.
Crypto is a complicated space, and you must work with someone who not only understands the tax system but crypto itself. At Wayex, we have several tax time partners who offer expertise in this space to help you file your tax returns with certainty.
We've asked our tax time partners, Syla, Crypto Tax Calculator and Koinly, to provide some insights into our tax followers.
First up, Syla, Syla is a tax time calculator helping you calculate your tax time earnings.
We asked Nick Christie, Founder of Syla, "What do you wish every Aussie crypto investor knew about the ATO and digital assets?"
Crypto is a key focus area for the ATO, and they actively collect data from most major exchanges, both in Australia and overseas. Whilst no one loves paying tax, there are plenty of ways to reduce your bill legally, and the ATO is fine with that. Simple strategies, such as claiming investment-related expenses and using alternative cost base methods like HIFO or LTFO, are available to everyone. For larger portfolios, smarter structures like Companies, Trusts or SMSFs can also be considered.
Don’t get caught out this tax time - use one of our crypto tax experts to make sure you are doing everything you can to get your maximum returns.
Regulators be regulating
Some US regulators are referring to next week as "Crypto week” as the United States Congress debates three key crypto bills. The bills include the CLARITY Act, the Anti-CBDC Surveillance State Act and the Genius Act.
We've touched on the Genius Act numerous times on the blog, but all three pieces of legislation are essential to the Crypto world.
The Clarity Act is a bipartisan effort to create a unified and comprehensive regulatory framework. It will classify digital assets into digital commodities, stablecoins and excluded digital assets. The act will also provide clear guidelines over who is in charge of what, with the CFTC gaining exclusive jurisdiction over "digital commodities". Crypto companies will be in the spotlight this week as they advocate for transparency and clearer regulations during a congressional hearing to discuss the bill.
The Anti-CBDC Surveillance State Act effectively bars the federal government from issuing its central bank digital currency—an idea previously supported by the Biden administration.
Of the three acts, only the Genius Act is likely to pass the republican controlled House of Representatives. Although some House members wanted amendments to the bill and proposed a new one, it was believed that President Trump instructed his party to focus on passing his original bill, rather than the amended one.
CARF is a-coming
OECD’s Crypto-Asset Reporting Framework (CARF) is set to transform the cryptocurrency industry. Designed to align crypto assets with global tax reporting standards similar to those in traditional finance, CARF has already gained commitments from over 60 countries, including Australia.
Currently, the UK and the EU are sprinting full steam ahead for implementation in 2026, followed by Singapore, the UAE, Hong Kong, and the US in 2028. The framework, despite its terrible name, is a step towards the mainstream for crypto investors, in case you need any more indication that crypto is no longer just for the cool kids.
The framework does include major changes for the industry. Under the CARF framework, crypto services providers will be required to collect and report detailed transaction data. The companies that will be required to report are exchanges, brokers and ATM operators, which has sparked the ire of privacy advocates.
Although no legislation as such has been introduced by the Albanese-led Australian government yet, a Treasury Consultation paper was released in November 2024. However, as the aim is for CARF to be implemented in 2026, we should hopefully have some movement on it soon.
Whale Watching
If you are anything like me and spend an inordinate amount of time on Twitter (X), you would have some chatter around a significant whale movement.
According to Decrypt, a dormant "Satoshi era" Bitcoin whale has stirred the cryptocurrency waters by moving 80,000 Bitcoin, worth over $8.6 billion, in a single day. The movement makes it the most significant known daily transfer of Bitcoin in history.
The Bitcoin was initially acquired in 2011 for $211,000 USD.
Although the identity of the user remains unknown, speculation hasn't stopped, 'Why Now?'
What’s making us laugh this week?
Founder’s Corner
With Bitcoin reaching new highs consistently in 2025. It is nice to see these kinds of achievements despite other news and events going on around the world. I am looking forward to seeing what the rest of the year holds. Will we go even higher, or will Bitcoin look to seek lower levels in the months to come? It will be interesting to see what comes out of the US Congress in the coming weeks, but I am sure we are all hoping for steps forward rather than backward. Whatever is to come. I am sure that the rest of the world will look to follow suit. With Trump coming out and announcing more potential tariffs, it almost seems like deja vu, except the market seems to be holding off on any drastic actions like last time. As always, it is a pleasure to be working with all of our time partners, and I appreciate Syla answering some questions for us to provide you with answers you might have been looking for.
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Until next time,
The Wayex Team
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