US clears path for companies to hold Bitcoin tax-free
The US Treasury Department and the Internal Revenue Service have launched interim steering that considerably eases tax burdens for companies holding Bitcoin and different digital property.
Issued on Sept. 30, the notices, 2025-46 and 2025-49, make clear how the Corporate Alternative Minimum Tax (CAMT) applies to unrealized positive aspects, a query that had raised alarm throughout company treasuries.
The steering follows heavy suggestions on proposed laws (REG-112129-23) revealed in September 2024. Those guidelines left companies unsure about how unrealized crypto positive aspects could be handled below the CAMT framework.
By addressing this hole, Treasury and the IRS intention to cut back compliance prices and make clear how companies calculate their adjusted monetary assertion earnings (AFSI), the tax base for CAMT. Companies might instantly depend on this interim aid, with related provisions anticipated in forthcoming laws.
The CAMT, created by the 2022 Inflation Reduction Act, imposes a 15% minimal levy on companies reporting no less than $1 billion in common annual AFSI.
That calculation would have included unrealized digital asset positive aspects with out changes, probably creating huge paper tax liabilities for companies with massive crypto holdings.
Relief for Bitcoin treasury companies
The replace has instant implications for companies like Strategy Inc. (formerly MicroStrategy), which holds greater than 640,000 BTC.
Under accounting requirements adopted in January 2025, Strategy now reports its Bitcoin at truthful worth, with unrealized positive aspects and losses flowing into internet earnings every quarter.
Before this steering, analysts anticipated the corporate to fall below CAMT in 2026, exposing billions in potential legal responsibility on unrealized Bitcoin positive aspects.
The new guidelines, nonetheless, would permit the corporate to exclude these unrealized crypto positive aspects from AFSI.
As a outcome, Strategy now not expects to face CAMT publicity linked to its $16 billion in Bitcoin holdings. That shift removes a serious overhang on the corporate’s long-term technique of holding Bitcoin as a reserve asset.
With greater than 100 public companies holding over 1 million BTC, the ruling might strengthen Bitcoin’s position as a company reserve instrument.
Considering this, Bitcoin advocates welcomed the transfer as validation for company treasuries.
Investor Peter Duan stressed that the IRS clarification provides companies certainty, encouraging them to proceed accumulating BTC with out the specter of taxation on paper income.
Jeff Walton of Strive Asset Management echoed that view, arguing that the choice removes a “large FUD narrative” that had discouraged companies from reporting sturdy digital asset positive aspects.
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