Block Pushes Bitcoin Tax Freedom 💳, Bukele Buys The Dip 🇸🇻, Banks Cleared To Hodl Fees 🏦

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Welcome to Issue #408 of Bitcoin Breakdown, where it’s OPSEC Wednesday special and where we are still excited about Early Black Friday offer where you can unlock a ridiculous 80% off all Premium Supporter tiers!

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Now for today’s Top Stories:

• 💳 Block Pushes for Bitcoin Tax Reform to Unlock Everyday Payments

• 🇸🇻 Bukele Buys the Dip, Defies IMF

• 🏦 Banks Get Green Light to Hodl Bitcoin for Fees

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Nov 19, 2025

TODAY’S TOP STORIES

💳 Block Pushes for Bitcoin Tax Reform to Unlock Everyday Payments

Jack Dorsey’s Block launches 'Bitcoin is Everyday Money,' advocating for a $600 de minimis tax exemption that would exempt small bitcoin purchases from capital gains taxation. Currently, every bitcoin transaction triggers complex tax calculations, discouraging everyday use. The campaign features Washington DC billboards and enables Americans to contact Congress for reform. With 50M Americans owning bitcoin and millions of Square sellers now accepting it, Block highlights how outdated tax policy blocks bitcoin's potential as practical payment method. Business Wire

🇸🇻 Bukele Buys the Dip, Defies IMF

El Salvador just scooped up 1,090 BTC worth over $100M during a sharp market drop, boosting its reserve to 7,474 BTC valued near $700M. President Nayib Bukele shared his trademark ‘Hooah!’ as the country kept stacking sats despite IMF warnings tied to a $1.4B loan deal that discourages public Bitcoin holdings. El Salvador maintains its policy of purchasing one BTC daily, even as Bitcoin dipped below $90K amid broader market weakness. The government frames this as resilience-friendly policy while critics question whether new purchases violate IMF commitments or simply reflect wallet consolidations. Bloomberg

🏦 Banks Get Green Light to Hodl Bitcoin for Fees

The US Office of the Comptroller of the Currency (OCC) now lets US national banks keep Bitcoin and crypto on their balance sheets to cover unavoidable blockchain network fees and test platforms. Comptroller Jonathan Gould’s latest interpretive letter likens this to banks holding foreign currency in payment systems, calling it ‘incidental’ to banking. By cutting out middlemen and lowering operational risks, the move could quicken Bitcoin adoption, bridging traditional finance with blockchain in a safe, regulated way while keeping holdings minimal relative to capital. Bitcoin Magazine

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QUICK BITS

• US SEC removes all Bitcoin and crypto references from 2026 examination priorities, marking a deliberate shift from previous years' focus on digital assets toward broader technology and compliance risks under new leadership.

• US government examines joining international Crypto-Asset Reporting Framework (CARF) that would grant IRS access to foreign digital asset account data held by US citizens.

• US Treasury’s $300B liquidity drain hits banks, stocks, and Bitcoin, setting up short-term volatility while potentially fueling the next Bitcoin bull run, according to analyst Giuseppe Ciccomascolo.

• Global fiat money supply reaches unprecedented $142T, highlighting the need for Bitcoin.

• Tether makes a strategic investment in bitcoin-backed lending platform Ledn as the Bitcoin-collateralized credit market expands.

• Cboe Global Markets announces the launch of Bitcoin Continuous Futures on December 15, bringing perpetual-style Bitcoin exposure to US-regulated markets with 10-year expiration and daily cash adjustments.

• Google softens its controversial Android sideloading restrictions by introducing an 'advanced flow' for experienced users, but maintains mandatory developer ID verification and $25 registration fees for most app distribution outside Play Store.

• Firas Isa, founder of Chicago-based Virtual Assets LLC operating as Crypto Dispensers, faces federal charges for allegedly laundering $10M in criminal proceeds through Bitcoin ATMs nationwide.

• NBA free agent Tristan Thompson advocates for Bitcoin as a tool for financial freedom, calling it 'a statement' rather than just an asset while predicting BTC could reach $1M

• Senate Banking Committee Chair Tim Scott pushes for a December markup of the crypto market structure bill, aiming to deliver comprehensive digital asset legislation to President Trump's desk by early 2026.

• Strategy acquires 8,178 BTC for $836M, expanding total bitcoin holdings to 649,870 BTC worth $61.7B.

• Bernstein analysts argue that bitcoin's 25% correction from $126,000 all-time high reflects short-term market anxiety rather than cycle peak, citing strong institutional ETF ownership and Strategy's continued accumulation as evidence of shallow pullback instead of historical 60-70% drawdown.

• Michael Saylor says his Bitcoin treasury strategy can survive an 80-90% BTC crash despite the firm's mNAV falling below 1, while analysts warn this valuation discount threatens operational sustainability.

• Strategy remains positioned for potential S&P 500 inclusion despite the recent Bitcoin crash, as the world's largest corporate BTC holder is unlikely to face forced liquidation, according to analysts from Matrixport.

• US government will start buying BTC for strategic reserve only when facing external pressure from other nations making first moves, according to analyst Mike Alfred.

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