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Crypto Policy Under the White House: What Changed by 2026 and What It Means for Miners and Builders

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· As of

Updated October 10, 2026. Rewritten with the actual status of each policy as of October 2026, corrected claims about mining tax guidance, and sources.

U.S. crypto policy changed direction in 2025. The administration that took office in January set out to support the industry rather than regulate it mainly through lawsuits, and Congress passed its first major crypto law. But by fall 2026, much of the agenda is still unfinished. Here is what actually changed, what has not, and what it means for miners and builders.

Executive actions

  • January 2025: an executive order on digital financial technology created a President’s Working Group on Digital Asset Markets and barred federal agencies from working on a U.S. central bank digital currency (CBDC). The working group published its policy recommendations in July 2025.
  • March 6, 2025: Executive Order 14233 created a Strategic Bitcoin Reserve and a separate stockpile for other digital assets. The reserve is made up of Bitcoin the government already owned through criminal and civil forfeitures, and it stopped the practice of selling that Bitcoin.
  • Regulators: the SEC under new leadership dropped several major enforcement cases against crypto firms in 2025 and shifted toward writing rules and granting exemptions.

The Strategic Bitcoin Reserve, in practice

The reserve has not bought any Bitcoin. Treasury Secretary Scott Bessent said in August 2025 that the government would not be buying more, and no budget-neutral purchase plan has been announced. Estimates put the government’s Bitcoin holdings across agencies at roughly 198,000 to 328,000 BTC, but no public audit has confirmed the figure.

In Congress, the BITCOIN Act, which would require Treasury to buy 200,000 BTC a year for five years, has not received a hearing. A narrower House bill introduced in May 2026, the American Reserve Modernization Act, would lock up the existing reserve and require audits but would not authorize purchases. It was scheduled for committee markup in September 2026.

What Congress has and has not done

  • Stablecoins (passed): the GENIUS Act became law in July 2025, setting federal reserve and licensing rules for dollar-backed stablecoins.
  • Market structure (stalled): the Digital Asset Market Clarity Act, which would split oversight between the SEC and CFTC, passed the House in July 2025. A Senate vote to advance it failed 49 to 50 on September 15, 2026. The bill can still come back, most likely after the November election.
  • CBDC ban (pending): the Anti-CBDC Surveillance State Act passed the House 219 to 210 in July 2025. Its Senate version has not passed, so the ban currently rests on the 2025 executive order rather than law.

What changed for miners

No mining energy tax. The previous administration’s budget proposals had included a 30% excise tax on electricity used for crypto mining, known as the DAME tax. It never passed Congress and has not been proposed since.

Tax rules are mostly unchanged. Under longstanding IRS guidance (Notice 2014-21), mined coins count as income at their fair market value on the day you receive them, and miners who operate as a business also owe self-employment tax. What is new is broker reporting: exchanges began issuing Form 1099-DA for 2025 sales, and from 2026 they must also report cost basis for assets bought on their platforms. Keep your own records of what you mined and when; earlier versions of this article overstated how much new mining-specific guidance the IRS has issued.

States still set the practical rules. Zoning, noise limits and utility rates matter more to a miner’s day-to-day business than federal policy. Some states, including Arkansas and Montana, have passed “right to mine” laws; others leave it to local governments.

What to watch

  • Whether the CLARITY Act returns in the post-election session
  • Final rules implementing the GENIUS Act for stablecoins
  • Any move to audit, expand or buy for the Strategic Bitcoin Reserve
  • SEC and CFTC exemptions and guidance, which are filling the gap left by Congress

Sources

This content is for informational and educational purposes only and is not financial, investment, legal or tax advice. Policy changes quickly; check current sources and consult a qualified professional for your situation.

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