Fidelity Demands Congress Overhaul Bitcoin & Crypto Tax Laws—Before Regulators Act First

Wall Street's sleeping giant just woke up swinging. Fidelity—the $4.9 trillion asset manager quietly stacking Bitcoin since 2014—is publicly pressuring lawmakers to fix crypto's tax nightmare. Their move comes as DC politicians draft fresh regulations that could make or break the industry.

The Tax Trap Every Crypto Holder Hates

Current IRS rules treat digital assets like collectibles, not currency. That means every coffee bought with crypto triggers a taxable event. Fidelity argues this stifles adoption and creates compliance chaos—while traditional finance skates by with simpler reporting.

Washington's Game of Regulatory Chicken

With new bipartisan bills circulating, the timing isn't accidental. Fidelity's push suggests institutional players want favorable rules locked in before retail traders get stuck with another raw deal. Because nothing says 'financial innovation' like letting banks write the rules, right?

The Bottom Line

This isn't just about taxes—it's a power grab. Whoever shapes these regulations controls the next trillion-dollar market. And for once, crypto might actually need Wall Street's lobbyists to win.