On July 4, 2025, the One Big, Beautiful Bill Act (the “Act”) was signed into law, making important changes to the Internal Revenue Code (the “Code”). The Act has implications for US and non-US companies and their domestic and international transactions, capital investment, and research and development activities, amongst other areas, which carry significant weight for the cryptocurrency/digital asset industry. From cryptocurrency exchanges, payment processors, asset managers and cryptocurrency funds to mining companies, token issuers,…

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