Treasury Considers Relief on Crypto Tax Rules: How the CAMT Adjustment Could Fuel Institutional Investments in Digital Assets
The US Treasury is evaluating changes to the Corporate Alternative Minimum Tax that could eliminate taxation of unrealized gains on cryptocurrencies. This potential policy shift promises to reduce uncertainty and attract institutional capital.
US Treasury Considers CAMT Rule Adjustment for Digital Assets
On October 1, 2025, the crypto market saw significant institutional activity against a backdrop of regulatory developments and notable on-chain movements. The US Treasury is considering easing a Corporate Alternative Minimum Tax (CAMT) rule that previously targeted unrealized gains on Bitcoin and other digital assets. This potential adjustment could reduce tax uncertainty surrounding unrealized gains treatment and potentially ease pressure on investors exposed to digital assets.
The current CAMT modalities applied to digital assets have been criticized for their complexity, particularly regarding the treatment of unrealized positions. A relaxation of these rules could encourage additional allocations toward cryptocurrencies, including from institutional players looking for regulatory clarity.
Fed Rate Cut Highly Anticipated with 99% Probability
Markets are now pricing in a 99% probability of a 25 basis point cut in the Federal Reserve's interest rates this October, with only a 1% chance of a larger 50 basis point reduction. Traders are closely monitoring September's jobs report and other macroeconomic signals for additional insight.
Bitcoin has maintained its position above $110,000, while Ethereum rebounded after briefly touching $4,075 following estimated liquidations of $1.5 billion last week. The total cryptocurrency market capitalization stands around $3.85 trillion, showing a weekly decline of approximately 1.3% despite a technical bounce of about 3.5% observed over the previous weekend.
An interest rate cut aligning with market expectations would likely reinforce Bitcoin's dominance, potentially at the relative expense of altcoins and DeFi projects. The market sentiment index has shifted from "extreme fear" to a neutral position in just a few days, illustrating the high sensitivity to monetary policy announcements.
Public Companies Accelerate Crypto Holdings
The share of cryptocurrencies held by publicly listed companies continues to grow, now representing 4.1% of Bitcoin's total supply, 3% of Ethereum, and 2.5% of Solana. A notable recent development is VisionSys AI (Nasdaq: VSA) implementing a plan that could reach up to $2 billion on the Solana blockchain.
The company's subsidiary, Medintel Technology, plans to acquire and stake $500 million in SOL over six months, leveraging the Marinade liquid staking protocol, which currently manages approximately $2.2 billion in locked value on Solana.
VisionSys AI joins other companies like Forward Industries, Defi Development, and Upexi, which collectively hold more than $3 billion in Solana tokens. Meanwhile, the tokenized asset offering continues to expand, with Circle's USYC tokenized money market fund now available on Solana with a capitalization of approximately $630 million.
Suspicious $21M Transfer to Tornado Cash
On-chain analysts have identified transfers totaling approximately $21 million from addresses associated with SBI Crypto to Tornado Cash over the past 48 hours. This movement occurs amid suspected wallet exploitation, with suspicions pointing to actors linked to North Korea. SBI Crypto has not officially communicated on this matter, and investigations are ongoing.
The use of Tornado Cash, an Ethereum transaction anonymization tool, complicates the traceability and recovery of the funds. The case renews attention on illicit flows and mixing protocols in the ecosystem.
VisionSys AI Partners with Marinade Finance
VisionSys AI has formalized a strategic partnership with Marinade Finance to build a cryptocurrency treasury that could reach up to $2 billion on Solana. The allocation will be progressive, using liquid staking to optimize yield, while Marinade, which already exceeds $1.5 billion in Total Value Locked (TVL), will handle the operational management of the positions.
This approach aims to diversify corporate treasury management by taking advantage of Solana's low transaction costs and fast execution, while capitalizing on DeFi solutions that have now proven themselves at the institutional level.
The crypto market remains vigilant while institutional activities continue to shape the landscape. The upcoming Fed decision will likely be a crucial factor in determining short-term market direction.