Core Viewpoint - Bitcoin's price surged nearly 3% to over $117,000, while Ethereum rose over 4% to $4,308.8, indicating a strong upward trend in the cryptocurrency market [1] Cryptocurrency Market Performance - Bitcoin increased by nearly 3% to surpass $117,000 [1] - Ethereum experienced a rise of over 4%, reaching $4,308.8 [1] - Cryptocurrency-related stocks also saw significant gains, with Strategy (MSTR.US) up over 6%, MARA Holdings (MARA.US) up over 5%, CleanSpark (CLSK.US) up over 4.9%, Sharplink Gaming (SBET.US) up over 5%, and Coinbase (COIN.US) up over 3% [1] Regulatory Developments - The U.S. Treasury is preparing to officially relax a proposed rule that would impose a 15% tax on unrealized Bitcoin gains held by companies like Strategy under the Corporate Alternative Minimum Tax (CAMT) [1] - The CAMT legislation requires large corporations to pay a minimum tax based on their financial statement income [1] - Current accounting standards require companies to value their cryptocurrency holdings at market value, leading to taxation on unrealized gains even if the assets are not sold [1] - Companies such as Strategy and Coinbase previously communicated with the Treasury, arguing that taxing unrealized gains on digital assets is unfair and could force U.S. companies to sell assets to meet tax obligations, putting them at a competitive disadvantage globally [1]