According to Bloomberg, the U.S. House Ways and Means Committee is preparing legislation to establish a cryptocurrency tax structure, expected to be released as early as Friday and hold a hearing early next week. The committee chairman Jason Smith has listed the digital asset tax framework as a top priority, and the Ministry of Finance has been involved in the relevant process. The seven proposed bills include taxation time for mining or staking tokens, exemption of capital gains tax on some stablecoin transactions, equal tax treatment for digital assets and securities, a safe harbor for foreign investors trading US securities, and expanding the washout rules to digital assets.

According to Lookonchain monitoring, the newly built wallet 0x6436 has withdrawn 1409600 HYPEs (9.48 million US dollars) from the exchange again, with a cumulative withdrawal of 902317 HYPEs (64.9 million US dollars) in the past 3 days.

According to OnchainLens monitoring, a newly built wallet withdrew 170000 HYPEs worth $109 million from Coinbase 7 hours ago.

Nasdaq 100 futures fell over 1%, S&P 500 futures fell 0.5%, and Dow Jones futures fell 0.1%.

According to CoinDesk, Reza Bundy, CEO of Atlas Capital, has warned that Bitcoin could fall 70% within six months to the $26000 to $30000 range, before rebounding to $150000 to $500000 within a few years. His prediction is based on data analyzed jointly with Nouriel Roubini, the 'Doomsday Doctor'. Bundy stated that Bitcoin has failed as an inflation hedge tool and is currently only a high-risk asset that fluctuates in sync with technology stocks.