Welcome to the 17th 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:

🏛️ Senate Pushes CFTC Bitcoin Oversight
Senate passed bill 12-11: CFTC gets primary Bitcoin spot authority as commodity, clearer SEC rules. Republicans back innovation, Democrats flag fraud risks.

👀 IRS Bitcoin Reporting Mandatory
From Jan 1, 2026: brokers report Bitcoin proceeds + cost basis on 1099-DA. Strict compliance ahead; no 2025 good-faith penalties.

🇺🇸 OFAC Sanctions Iran-Linked Exchanges
US Treasury hit UK exchanges Zedcex & Zedxion for $94B+ Iran/IRGC transactions, first digital asset sanctions under Iran program.

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The Senate Agriculture Committee passed the Digital Commodity Intermediaries Act on Jan 29 by a narrow 12-11 party-line vote. It assigns primary spot-market oversight of Bitcoin to the CFTC (as a commodity), clarifies SEC jurisdiction, and sets rules for Bitcoin intermediaries. Republicans support it for innovation, Democrats cite fraud concerns. Momentum builds toward clearer U.S. Bitcoin regulation in 2026. Senate

Since January 1, 2026, brokers and exchanges must report Bitcoin sales/exchanges (gross proceeds + cost basis) on new Form 1099-DA for 2026 activity, with first filings due in 2027. Stemming from the 2021 Infrastructure Act, the IRS offers no penalties for good-faith but demands strict future compliance, standardizing Bitcoin reporting like stocks. IRS

The U.S. Treasury’s OFAC sanctioned two UK-registered exchanges (Zedcex and Zedxion) for facilitating over $94 billion in transactions tied to Iran’s IRGC-linked entities, the first time digital asset platforms have been hit under Iran sanctions. The move targets evasion channels and signals intensified U.S. enforcement on illicit Bitcoin and crypto flows. Cointelegraph

🇪🇺 EU Pressures 12 States on Crypto Tax Rules
The European Commission sent formal notices to 12 countries for incomplete crypto tax transparency implementation, targeting Bitcoin info-sharing to curb evasion. Hungary faces separate MiCA warning over national conflicts.

🇬🇧 UK Fast-Tracks Bitcoin Regulation by 2027
The UK Treasury accelerates integrating Bitcoin into full financial services oversight, treating it like stocks for stronger investor protections and regulatory consistency under existing laws.

🇳🇿 New Zealand Mandates Bitcoin School Education
New Zealand introduces mandatory Bitcoin and digital currency curriculum for Years 1–10 starting 2027, aiming to enhance financial literacy and establish leadership in Bitcoin education.

🇦🇺 Australia Targets Bitcoin Clarity in Grey Zones
Australia prioritizes regulatory clarity for Bitcoin amid 31% adoption, labeling it a legal grey zone with planned 2026 licensing crackdowns to foster innovation while ensuring “compliance”.

🇮🇳 India Intensifies Bitcoin Oversight Controls
India ramps up strict regulatory measures on Bitcoin, focusing on evasion prevention and debating banking integration, as part of broader 2026 compliance shifts.

🇭🇰 Hong Kong Refines Bitcoin Platform Licensing
Hong Kong updates its Bitcoin exchange framework, aligning with European stablecoin rules and enhancing licenses for global operations in ongoing 2026 convergence efforts.

🇸🇬 Singapore Preps for Bitcoin Dispute Surge
Singapore courts anticipate more Bitcoin-related legal battles in 2026, leveraging 2025 regulatory milestones for clearer enforcement and dispute resolution on tokenized assets.

🇷🇺 Russia Mandates Crypto Mining Registry
Russia’s Energy Ministry plans a mandatory registry for mining equipment to track Bitcoin activities, tying into the 2025 tax framework with 13–15% income rates.

🌍 Global Report Spotlights 2026 Bitcoin Shift
A 2026 crypto regulation report highlights a paradigm shift to enforcement, covering Bitcoin as a regulated commodity in EU MiCAR, UK, Australia, Brazil, and more.

🇻🇳 Vietnam Advances Bitcoin Exchange Licensing Pilot
Vietnam’s Securities Commission accepts licenses under the 2026 Digital Technology Law pilot, treating Bitcoin as property with $380M capital requirements for regulated trading.

“Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink.” — Ludwig von Mises

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