Let's Crypto! 🚀03/2025
Current News, Crypto and Taxes, Steps to Crypto Success
👋 Hey there, crypto explorers!
Welcome back, and a warm hello to our new readers! Whether you’re here for your first taste of crypto insights or have been with me since the early days, I’m delighted you’ve joined. Think of this newsletter as your cozy spot to sip coffee or tea ☕ and chat about crypto like friends.
Here’s what’s on the menu today:
📰 A quick roundup of the latest buzz-worthy crypto news (no jargon, just the essentials).
🪙 A deep dive into this month’s hot topic: Crypto and Taxes—helping you make sense of tax season without breaking a sweat. Plus, I’ll sprinkle in some extra nuggets about ISO20022 tokens for those curious minds.
🚀 Finally, we’ll chat about how the Let’s Crypto! MasterMind can help you level up your investing game one step at a time.
Got a burning question, a crypto win you’re proud of, or just a funny story about your first Bitcoin purchase? Hit reply and share it with me! I’d love to hear from you. This space is all about learning and growing together. 😊
📰 Crypto Breaking News 💥
1️⃣ Markets turn cautious: Bitcoin and beyond
If you’ve been keeping an eye on the markets lately, you’ve probably noticed some turbulence. From major stock sell-offs to Bitcoin’s latest dip, it feels like the financial world has hit the brakes and shifted into “risk-off” mode. Let’s break down what’s going on and what it could mean for crypto investors like us.
📉 Big names are playing it safe
When the heavy hitters start making moves, it’s worth paying attention. Jamie Dimon, CEO of JPMorgan Chase, recently sold $234 million worth of JPMorgan stock—a big deal since it’s his biggest sale in nearly 20 years. Meanwhile, Warren Buffett’s Berkshire Hathaway has been hoarding cash at a record $334 billion.
What’s the takeaway here? Both Dimon and Buffett seem to be signaling caution about the current market conditions. Their moves suggest rough waters ahead. Historically, decisions like these have been viewed as early warning signs of continued market volatility—probably downward overall.
💸 Bitcoin’s price rollercoaster
Bitcoin hasn’t been spared from market jitters. It recently hit a four-month low, briefly dipping below $77,000 before recovering slightly above $80,000. That’s an 8% drop from its recent highs.
Why the sudden sell-off? A cocktail of macroeconomic pressures—including inflation worries, rising interest rates, and geopolitical tensions—has pushed institutional investors to pause on crypto.
🌍 Fear spreads beyond crypto
It’s not just crypto that's feeling the heat—traditional markets are also suffering. The Nasdaq 100 has dropped over 11% in just two weeks, and the S&P 500 is down 3.1% from last week. The Fear & Greed Index has sunk to levels we haven’t seen since the 2022 bear market. Yikes!
And here’s the kicker: the Federal Reserve Bank of Atlanta revised its Q1 GDP growth forecast to a contraction of -2.4%. Translation? Recession fears are growing louder, and markets are bracing for potential turbulence.
⚡ What does this mean for you?
This market shift is a reminder that volatility isn’t going away anytime soon. Whether it’s cash stockpiling by big players or Bitcoin’s price swings, a risk-averse mindset is becoming the default mode for many investors.
For us, this is a chance to sharpen our strategies (maybe buy on big dips), revisit our risk tolerance, and make sure we’re making informed decisions. Remember: markets are like the weather—they’ll always have storms, but knowing how to navigate them puts you in control.
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2️⃣ Regulatory Shake-Up:
Trump’s pro-crypto executive order 🏦
President Trump issued an executive order that overhauls U.S. crypto policy by encouraging public blockchain networks and rejecting central bank digital currencies (CBDCs). A new Crypto Task Force, led by Hester Peirce, aims to clarify regulations and promote innovation. Commissioner Peirce is committed to creating a “comprehensive and clear regulatory framework for crypto assets.”
The SEC's pause on enforcement actions against Binance, Coinbase, and other crypto firms signals a potential shift toward a more industry-friendly approach.
Will this regulatory pivot position the U.S. as a global leader in blockchain innovation? Reply to this email with your thoughts. 😊
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3️⃣ Trump's crypto policy boosts select projects 🚀
President Trump's pro-crypto stance has sparked excitement across the industry. Beyond Bitcoin, Ethereum, XRP, ADA, and SOL, projects like Avalanche (AVAX), Sui, Filecoin (FIL), and Aptos (APT) are gaining attention due to their U.S. roots and recent White House recognition. Many other American-made cryptocurrencies could also gain attention.
This policy shift could reshape the crypto landscape, potentially favoring U.S.-based projects and those with established relationships in Washington.
How might Trump's crypto-friendly policies reshape the global balance of power in blockchain innovation? 🧐
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4️⃣ Dubai advances crypto regulations 🏛️
Dubai's crypto regulator has implemented new measures to enhance the emirate's oversight and development of the cryptocurrency sector. This move reflects Dubai's commitment to becoming a global blockchain and crypto innovation hub while ensuring investor protection.
Dubai's regulatory advancements could set a precedent for other jurisdictions looking to balance innovation with regulatory compliance in the crypto space.
Could Dubai's regulatory approach become a model for global crypto governance and compete with the US as the crypto capital of the world? I’m keeping an eye on this development.🧐
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📚 Insights - Crypto and Taxes 📚
Let’s talk about something most crypto investors dread… taxes.
Yep, the IRS has an eye on your Bitcoin, your Ether, and even those random airdrops you probably forgot about. It's a lot to unpack, so here are some bite-sized highlights from our March Money Monday Webinar, where we tackled all things crypto and taxes.
(P.S. I’m not a licensed tax preparer anymore, so always check with your accountant!)
👉 What counts as “convertible virtual currency”?
The IRS uses a fancy term—convertible virtual currency (CVC)—to describe cryptocurrencies that can be exchanged for fiat money (like USD) or used for real-world goods and services. Think Bitcoin, Ethereum, or USDC.
On the flip side, non-convertible virtual currencies (like in-game tokens from World of Warcraft) don’t count. Why? They stay locked in their own ecosystems—no real-world cash-out options here.
👉 Can you use crypto to pay taxes?
While the IRS says crypto isn’t legal tender, a few U.S. states have hopped on the bandwagon. Colorado, Utah, and Louisiana now accept crypto for state taxes. Pretty cool, right?
Other states, like Arizona and Ohio, have flirted with the idea, but nothing’s official yet. Baby steps!
👉 So, how is crypto taxed?
Crypto is treated as property, which means whenever you trade, you need to calculate capital gains or losses. But here’s the silver lining: You can pick a capital gain method that works in your favor.
FIFO (first-in, first-out)
LIFO (last-in, first-out)
HIFO (highest-in, first-out)—This one can often save you the most on taxes!
Just make sure to stick with the same method for the entire tax year.
👉 What if I stake coins or get an airdrop?
Bad news: The IRS sees staking rewards and airdrops as taxable income. The value of those rewards when you receive them goes straight into your gross income.
Worse news: When you eventually sell those tokens, you’ll need to pay capital gains tax, too. Double taxation? Yep, it sure feels like it. 😓
👉 Lost crypto—can you deduct it?
If you’ve lost crypto due to scams, hacks, or just sending it to the wrong wallet (ouch), here’s what you need to know:
The IRS breaks losses into three categories:
Casualty Loss: Lost access to your wallet or sent to the wrong address.
Theft Loss: Your exchange or wallet was hacked.
Investment Loss: Scammed by an ICO or exchange shutdown.
Unfortunately, thanks to the 2017 Tax Cuts and Jobs Act, personal casualty and theft losses can’t be deducted unless they occur in a federally declared disaster area (weird rule, right?). So, always double-check with a tax pro for the latest updates.
🧐 Is your head starting to hurt yet?
Taxes might not be the most exciting part of crypto, but staying informed can save you a ton of headaches (and money) in the long run. Got questions? Hit reply and let me know—let’s navigate this tricky terrain together! 🚀
By the way, here’s a super helpful website that might answer some questions.
🎓 Steps to Success 🎓
🚀 Build your confidence with our MasterMind
If you've ever felt overwhelmed trying to navigate the wild world of cryptocurrency, you're not alone. It’s a bit like standing in front of a buffet with too many options—where do you start?
That’s precisely why I created the Let’s Crypto! MasterMind. It’s designed to guide you step-by-step toward building wealth with crypto, no matter your experience level.
Our approach is built on four simple yet powerful pillars to give you the clarity and confidence you need:
🧠 Investor mindset
Think of this as the foundation for everything else. We help you define your goals, understand your risk tolerance, and—most importantly—tune out the emotional noise like FOMO (fear of missing out) and FUD (fear, uncertainty, doubt). Mastering your mindset keeps you calm and focused in a space that often feels chaotic.
📈 Investing strategies
Crypto can feel like the Wild West, but with the right strategies, you can tame it. Whether you’re into short-term trades, long-term holds, or earning passive income, we’ll show you how to balance risk vs. reward and build a game plan that fits your goals.
🛠️ Investment technology
Don’t let the tech intimidate you—this is where we demystify things like wallets, exchanges, applications, and more. Think of it as learning the tools of the trade so you can move through the crypto world like a pro.
🚦 Actionable steps
Every lesson and training is designed to help you take practical, bite-sized actions, so you’re not just learning—you’re doing.
And you’re not alone! Each month, Kelly holds two Deep Dive Community Calls with a Q&A segment, where members can receive direct answers to their questions.
Plus, the Money Monday Webinars cover essential learning topics. No matter what your need, the MasterMind has you covered!
Here’s a quick success story to inspire you.
One of our community members, Anne (not her real name), started with zero crypto knowledge—she knew nothing but was eager to learn! Within two months, armed with the skills and confidence she gained in the MasterMind, she opened her first crypto exchange account, purchased some USDC, set up a hardware wallet and connected it to Metamask, then bought her first tokens on a decentralized Web3 platform. Wahoo! Success!
Now it’s your turn.
Joining the Let’s Crypto! MasterMind is more than just a course—it’s a supportive community where you can keep up with the ever-changing crypto narratives. Ready to take the next step? We’ve saved you a seat at the table. 😊
Thank you for reading! I hope you enjoyed the content. See you next month!
Stay curious and keep learning.😊
