Crypto market cap fell 2.3% to $2.65T on April 28. BTC dropped 2.75% to $77,005, ETH lost 4.3%. DAM skyrocketed 144%, BDAG up 30%, Pi up 4.7%. Fear & Greed index slumped to 33. Regulatory developments dominated news flow.
Robinhood upgrades crypto services: US fee tiers expanded to 7 (lowest 0.03%), European perpetual contracts for XRP, SOL, DOGE, SUI with up to 7x leverage, ETH/SOL staking for New York users, and cost basis tool in December. Crypto revenue surged 300% YoY to $268M.
The IRS introduces Form 1099-DA for centralized exchanges and mandates per-wallet cost basis tracking starting 2025. Tax experts warn of penalties and urge investors to prepare for the 2026 tax season.
The U.S. IRS has extended crypto tax relief until end of 2026, allowing investors to use specific identification instead of mandatory FIFO, potentially reducing capital gains taxes and simplifying exchange reporting requirements.
New IRS crypto tax rules taking effect in 2025 are raising compliance pressure on U.S. investors, who must now prove cost basis for digital assets. Survey data shows 53% fear higher taxes and 61% remain confused about how the rules apply.
The IRS has introduced temporary 2025 tax relief for crypto users on centralized exchanges, allowing them to rely on personal records or tax software instead of default FIFO treatment that could raise capital gains taxes.
The IRS will let crypto users on centralized exchanges rely on their own records or tax software in 2025, easing concerns that default FIFO accounting could increase taxable gains before brokers fully support specific identification.
The IRS has granted temporary tax relief for crypto holders using centralized exchanges in 2025, allowing them to keep using their own records or tax software to identify sold assets and avoid potentially higher taxes under default FIFO rules.
