DeutschThe USA has fundamentally shifted its stance on cryptocurrencies in a short time. Where legal uncertainty and strict oversight long prevailed, there is now a first federal law, a government Bitcoin reserve, and a clearly crypto-friendly government. This guide shows the current status: What is permitted, which authority is responsible for what, how high are the taxes, and where is legislation headed next.
First, the most important thing in one sentence: Cryptocurrencies are legal in the USA; buying, owning, and trading are done through regulated providers, and since 2025, a federal law has for the first time covered stablecoins.
| Topic | Status in the USA |
|---|---|
| Cryptocurrencies legal? | Yes |
| Bitcoin legal? | Yes |
| Trading allowed? | Yes, via regulated platforms |
| Mining allowed? | Yes |
| Banks crypto-friendly? | Medium to high, strongly increasing |
| Tax on profits | Yes, as capital gains |
| Crypto ETFs allowed? | Yes, spot ETFs since 2024 |
| Stablecoins regulated? | Yes, since July 2025 by federal law |
| Government Bitcoin Reserve | Yes, since March 2025 |
Are cryptocurrencies legal in the US?
Cryptocurrencies are legal in the USA. Individuals may own, buy, sell, and transfer them. Trading takes place via platforms that must be registered at the state or federal level, depending on their activity. Mining is also permitted; the country is now one of the world’s largest locations for computing power in the Bitcoin network.
Restrictions primarily arise from the classification of individual coins. The securities regulator examines whether a token qualifies as a security. If so, stricter rules apply to trading and distribution. Bitcoin itself is not considered a security, but a commodity. For many smaller tokens, this question was long controversial and led to numerous proceedings.
The Shift in US Crypto Policy
Just a few years ago, the sentiment was different. Oversight focused heavily on enforcement, many proceedings were brought against crypto companies, and a federal law was entirely absent. Since 2025, the picture has changed. The government has declared cryptocurrencies a strategic priority and set the goal of making the USA the leading location for the industry.
Among the most visible steps is the Strategic Bitcoin Reserve. By executive order dated March 6, 2025, the government established a state Bitcoin reserve, funded by coins seized by the state in criminal and civil proceedings. The exact wording of the order is documented in the Federal Register. Additionally, a Digital Asset Stockpile was created for other cryptocurrencies. In parallel, the government ended pressure on banks to deny crypto companies access to accounts.
Crypto Regulation and Authorities in the USA
The USA does not have a single crypto authority. Responsibility is distributed among several bodies, which critically influences the classification of a coin.
The Securities and Exchange Commission (SEC) is responsible if a token is considered a security. The Commodity Futures Trading Commission (CFTC) oversees the market for commodities and derivatives, which includes Bitcoin. FinCEN handles anti-money laundering oversight and reporting requirements, and the IRS handles taxes. In addition, there is the Office of the Comptroller of the Currency (OCC), which supervises banks in their dealings with stablecoins. At the state level, additional licensing requirements apply, such as New York State’s well-known BitLicense.
The First Federal Crypto Law: The GENIUS Act
For a long time, the USA lacked its own federal crypto law. That changed on July 18, 2025, with the GENIUS Act, the first federal law for digital assets. It specifically regulates stablecoins, i.e., coins pegged to a fixed value such as the US dollar. The full text of the law is available via Congress.gov.
The core of the law is that only approved issuers may issue a payment stablecoin for the US market. These must fully back their coins with cash or short-term government bonds and disclose their reserves monthly. Holders receive special protection rights in the event of an issuer’s insolvency. Explicitly, an approved payment stablecoin is not considered a security.
Beyond stablecoins, Congress is working on a more comprehensive market structure bill that aims to clarify the responsibilities between the SEC and CFTC. This project was still in the legislative process and not finalized at the beginning of 2026.
Crypto Taxes in the USA
For tax purposes, cryptocurrencies are considered property, not currency. Profits from selling or exchanging are taxable. Those who hold a position for more than one year generally benefit from lower long-term capital gains rates. Short-term gains are taxed as ordinary income.
| Activity | Tax liability |
|---|---|
| Buying and Holding | No |
| Selling for Profit | Yes, as capital gains |
| Exchanging Coin for Coin | Yes |
| Mining and Staking | Yes, usually as income |
| Paying with Crypto | Yes, considered a disposition |
New is the reporting requirement via Form 1099-DA. For transactions from January 1, 2025, crypto brokers report gross proceeds from sales to the tax authorities. Investors must still track acquisition costs themselves for the 2025 tax year; the reporting requirement for this takes effect from the 2026 tax year. Therefore, maintaining your own complete records is more important than ever.
Anyone with many transactions across multiple platforms will find it difficult to avoid thorough documentation. Specialized software helps to correctly assign purchases, sales, and exchanges. Our Crypto Tax Tool Comparison shows which programs are suitable for this.
How to Buy Cryptocurrencies in the USA?
The purchase of cryptocurrencies in the USA is straightforward and legal. US investors use regulated trading platforms that require identity verification and are linked to US bank accounts. In addition to direct purchases via exchanges, exchange-traded funds have become an important option.
Spot ETFs for Bitcoin were approved in January 2024, followed later by products for Ethereum and other coins. They allow participation in price development without having to custody the coins yourself. This has made crypto accessible for traditional portfolios and retirement accounts. You can check our Crypto Exchange Comparison to see which platform is suitable for direct purchases.
Crypto and Banks in the USA
The relationship between banks and crypto has significantly eased. For years, crypto companies complained that their accounts were terminated or denied. This practice, described by critics as deliberate exclusion, was explicitly ended by the government in 2025.
Today, banks are permitted to engage in stablecoin business under supervision, and established financial institutions are increasingly offering custody and trading for digital assets. The connection between crypto services and the traditional banking system is thus closer than ever.
Can Companies Hold Bitcoin in the USA?
Yes. US companies are allowed to hold Bitcoin and other cryptocurrencies and report them on their balance sheets. Several publicly traded companies have deliberately built up Bitcoin as part of their corporate treasury. Updated accounting rules now allow such holdings to be valued at market price, which has made their inclusion in corporate treasuries more attractive.
By far the best-known example is Strategy, formerly MicroStrategy. The group, led by Michael Saylor, transformed from a software provider into the first Bitcoin Treasury company and is now the world’s largest publicly traded Bitcoin holder. According to its own mandatory disclosures, the company held over 800,000 Bitcoin in May 2026. The build-up is primarily financed through the issuance of shares and convertible bonds, the proceeds of which flow directly into further Bitcoin purchases. This model has found imitators but also makes the company highly dependent on the Bitcoin price.
With the government Bitcoin reserve, the federal government itself has also taken on a pioneering role. The signal to companies is clear: Bitcoin is being taken seriously as a long-term asset.
Key Crypto Companies in the USA
The USA is home to a large part of the industry. Among the best-known trading venues is Coinbase, alongside established providers like Kraken and Gemini. In the stablecoin sector, Circle is a key player with its dollar-pegged USDC. In addition, large asset managers have opened access for institutional investors with their spot ETFs, as have leading manufacturers of mining technology.
History of Crypto Regulation in the USA
US policy has evolved from a wait-and-see to skeptical stance to an actively supportive approach. The following timeline summarizes the key turning points.
| Year | Event |
|---|---|
| 2017 | First CFTC-regulated Bitcoin futures launch |
| 2021 | First Bitcoin futures ETF approved |
| 2024 | SEC approves first spot ETFs for Bitcoin and later Ethereum |
| 2025 | Strategic Bitcoin Reserve via Executive Order, GENIUS Act as the first federal crypto law |
| 2026 | First reports via Form 1099-DA, work on market structure law |
Conclusion
Within a few years, the USA has transformed from uncertain territory into one of the most crypto-friendly major markets. Cryptocurrencies are legal, spot ETFs open access for broad investor groups, and with the GENIUS Act, there is now a federal law for the first time. The government Bitcoin reserve further underscores the change in course.
The comprehensive regulation of the market structure, which is intended to definitively clarify responsibilities between authorities, remains open. For investors, this means: The framework is significantly clearer than before, but not yet finalized in all areas. Those investing in the USA should take tax obligations seriously, as reporting requirements are currently being noticeably tightened.
Frequently Asked Questions about Cryptocurrencies in the USA
- What is Form 1099-DA?
A report that crypto brokers use to submit their customers’ sales proceeds to the tax authority. It applies to transactions from 2025 onwards.
- How are crypto gains taxed in the USA?
As capital gains. Those who hold for more than a year usually pay lower rates. Mining and staking rewards are generally considered income.
- What is the Strategic Bitcoin Reserve?
A government reserve of seized Bitcoin that the federal government no longer sells, but holds as a long-term asset.
- What exactly did the GENIUS Act change?
It first established clear federal rules for stablecoins in 2025. Only authorized issuers may issue them, must fully back them, and disclose reserves monthly.
- Are cryptocurrencies legal in the US?
Yes. Holding, buying, selling, and mining are allowed. Depending on whether they are classified as securities, individual tokens are subject to stricter rules.
This article does not constitute legal, tax, or financial advice. Especially in the USA, legislation is in flux, individual projects are still pending and can change the framework described here. Anyone buying or trading cryptocurrencies risks losses up to the complete loss of value. For your specific case, you should seek expert advice.
Updated on May 30, 2026
