Welcome to the fourth issue of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin — cutting through noise, narratives, and theater.

Now for today’s top stories:

💸 Bitcoin Excluded From De Minimis Tax Relief
The Bitcoin Policy Institute says leaving BTC out of small-payment tax exemptions shows lawmakers still treat bitcoin as taxable property, not money—undercutting peer-to-peer payments and real-world adoption.

🏛️ Governments Are Quietly Holding Bitcoin
Bitcoin Magazine notes Taiwan’s disclosure of seized BTC highlights that states already hold bitcoin in practice, even as legal uncertainty remains over custody, liquidation, and reserve treatment.

🛠️ Samourai Conviction Sends Chill Through Developers
Keonne Rodriguez warns his conviction signals a growing trend of criminalizing Bitcoin privacy tools, putting non-custodial software developers at serious legal risk.

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The Bitcoin Policy Institute said excluding bitcoin from de minimis tax exemptions signals lawmakers still view BTC as a taxable asset, not money, undermining peer-to-peer payments and real-world adoption.

Bitcoin Magazine reports Taiwan’s seized bitcoin disclosure shows governments are already holding BTC in practice, even as legal uncertainty persists around custody, liquidation, and reserve treatment.

Keonne Rodriguez said his conviction reflects a growing trend of criminalizing Bitcoin privacy tools, warning developers that writing non-custodial software may now carry severe legal risk.

Olivier Janssens argues private Bitcoin communities with their own courts could demonstrate legal pluralism, challenging the monopoly of nation-state legal systems through voluntary, contract-based governance.

Academic critics argue Bitcoin fails core monetary functions, suggesting legal frameworks treating it as currency misunderstand its structure and role as a non-state, non-debt digital asset.

David Sacks noted the Clarity Act will not be a catalyst for Bitcoin growth, as markets have already priced in regulatory clarity and remain driven by broader macro forces.

Market analysts argue clearer crypto laws may initially weigh on prices by increasing compliance burdens and reducing speculative excess before any long-term benefits emerge.

Crypto advocates warn Senator Cynthia Lummis’ departure leaves a leadership gap in Congress, risking slower progress on Bitcoin legislation defending self-custody and open financial networks.

🌍 Over 70% of jurisdictions with significant crypto exposure have advanced stablecoin and crypto regulatory frameworks in 2025, shaping how legal regimes treat digital assets globally. SQ

📊 Coinbase reported a 19% surge in law enforcement information requests in 2025, underscoring growing legal scrutiny of crypto platforms. CryptoRank

📊 Polymarket data shows traders assign a 55% probability that Trump will pardon Samourai Wallet developer Keonne Rodriguez before 2027. Polymarket

📉 Polymarket odds indicate markets overwhelmingly expect no change in Fed rates in January, with cuts or hikes seen as unlikely. Polymarket

“The price of freedom is eternal vigilance.” — Thomas Jefferson

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