Why Solana's Cryptocurrency Is Gaining
It also looks like investors are shrugging off some potential tax and regulatory changes that could impact the broader crypto space. Top cryptocurrencies came under pricing pressure at the beginning of the week as Democrats in the House of Representatives put forward tax changes that would have the IRS treat crypto tokens as securities rather than property. This would mean that cryptocurrencies would be subject to wash-sale rules, closing a loophole that's allowed traders to engage in short-term transactions while still treating sales made at a loss as tax-deductible events.
