Bitcoin Magazine
Bitcoin Showed Up in DC — And Washington Took Notice
By Zack Cohen, Bitcoin Policy Institute
Before diving into the recap, I want to say thank you. On behalf of the entire team at the Bitcoin Policy Institute, thank you to everyone who attended, supported, spoke, tuned in, or participated in any way. We spent months preparing for our third Bitcoin Policy Summit. What unfolded in Washington last week exceeded anything we could have expected.
More than 1,000 people joined us: builders, policymakers, students, agency staff, journalists, energy experts, and human rights advocates. And what they found was not a party dressed up as a conference, but a serious two-day working session that reflected how far the Bitcoin conversation has come – and where it’s going.
Bitcoin has long been misunderstood or sidelined in DC. It’s been easy for policymakers to dismiss or ignore it. But the 2025 Summit sent a different signal: Bitcoin isn’t going away. It’s not on the fringe. It’s at the center of emerging conversations about national strategy, economic strength, digital rights, and innovation.
A Welcome That Set the Tone
We opened the week with a packed welcome party, co-hosted with our friends at PubKey. To outsiders, DC may seem like a rigid town — buttoned-up, formal, slow-moving. But if you spend real time here, you know the truth: DC runs on relationships. And relationships are built in places like this.
Over 450 attendees gathered in a room buzzing with live karaoke, strong cocktails (shoutout to Unchained for devising the Old Fashioned Bull Run and the Miner’s Mule), and constant conversation. It was loud. It was joyful. But most of all, it was serious energy. Bitcoiners had arrived.
Who Was in the Room
This year’s summit brought in:
Exactly a year from today, on the country’s 250th birthday, July 4, 2026, every American child will receive a $1,000 investment account at birth funded by the federal government. Thanks to the Invest America Act which was passed by Congress earlier today. The act was introduced by Texas Republican Senator Ted Cruz, and in addition […]
On the same day the U.S. House of Representatives passed President Donald Trump’s flagship piece of legislation, the so-called “One Big Beautiful Bill,” Republican House leaders also declared the week of July 14, “Crypto Week,” according to a press release published by Arkansas House Republican French Hill. Crypto Week will feature a marathon review of […]
Bitcoin Magazine
The One Big Beautiful Act Passes in the U.S. Senate — Without Bitcoin Tax Amendment
Today, the One Big Beautiful Act passed in the U.S. Senate with a 51-50 vote, the final vote having been cast by Vice President Vance.
JUST IN: Vice President JD Vance breaks tie to pass President Trump's "Big Beautiful Bill" pic.twitter.com/u3GhRXsg4z— Bitcoin Magazine (@BitcoinMagazine) July 1, 2025
After a marathon amendment session, the bill passed without any Bitcoin- or crypto-related amendments included in it.
Senator Cynthia Lummis (R-WY) pushed for a vote on an amendment to the bill that would have provided for a de minimis capital gains exemption on crypto transactions of $300 or less, with a $5,000 yearly cap.
The senator urged Bitcoin and crypto enthusiasts to call their senators to let them know that this issue was important to them.
Call your Senators. Let ‘em know this matters to you! https://t.co/aQsSiOxLZs— Cynthia Lummis (@CynthiaMLummis) June 30, 2025
Leaders in the Bitcoin and crypto industry also spoke up about the importance of this amendment being added to the bill.
BTC Inc. Chairman David Bailey shared on X that “the de minimus transaction exemption is the #1 request from the grassroots bitcoin and crypto community and anyone who stands against it is directly screwing over the 50m Americans that own bitcoin and crypto.”
Gemini co-founder Tyler Winklevoss stated on X that “Passing the de minus transaction exemption for bitcoin and crypto transactions <$300 is critical to making America the bitcoin and crypto capital of the world.
But alas, Senate Finance Committee Chairman Mike Crapo (R-ID) did not facilitate a vote on the amendment.
Senator Lummis has acknowledged that the proposed amendment was not voted on and said that she plans to continue working with Senator Crapo to pass a law addressing crypto tax treatment.
The senator’s office share the following statement with Bitcoin Magazine:
“Senator Lummis had productive conversations with Chairman Crapo and other Senate Finance Committee members over the last few weeks, and looks forward to continuing her work with the Chairman and the rest of the committee to fix these important tax issues at a later date.”
Senator Lummis did not comment further on when that later date might be.
This post The One Big Beautiful Act Passes in the U.S. Senate — Without Bitcoin Tax Amendment first appeared on Bitcoin Magazine and is written by Frank Corva.
Bitcoin Magazine
Something is Brewing in Ireland: A Sound Punt Is Released, As Bitcoin Enters The National Conversation
For years, Bitcoin in Ireland has quietly simmered at the grassroots level—discussed in pubs and meetups, debated in Telegram groups, and occasionally splashed across headlines with predictable suspicion. But recently, the temperature is beginning to rise. With the release of “A Sound Punt: The Case for Ireland’s Interest in Bitcoin” by Bitcoin Network Ireland (BNI), and a weekend that sees both the Bitcoin Ireland Conference and Aontú’s Ard Fheis, it’s clear momentum is building on the Emerald Isle.
A Sound Punt: A Paper for the Citizens of Ireland
The new paper, released today by Bitcoin Network Ireland, is a concise, accessible document crafted to cut through the noise and present the merits of Bitcoin to the general public and politicians alike. Its aim is straightforward: provide a rational, jargon-free entry point into why Bitcoin matters, especially in an era of euro debasement and rising living costs.
The name itself is a clever pun—while it is a nod to both “sound money” and Ireland’s former currency, the punt, it also playfully suggests that although the majority of people view it as associated with risk, this may be worth reevaluating. It’s a signal that this is about more than technology: it’s about claiming monetary sovereignty and re-examining what makes money “good” in the first place.
What BNI is attempting to accomplish is bridging an important gap in understanding, helping citizens seeking change and government officials looking for solutions to recognize that sound, stateless money has value for everyone. As Mark Goodwin famously noted, “Bitcoin simply must be for enemies, or it will never be for friends.“—a neutral system that serves all participants regardless of their political stance.
Ireland’s Long and Complicated Relationship With Money
To appreciate the significance of this moment, it’s worth noting that Ireland’s relationship with money has always been distinct from its European neighbors. While the Romans introduced coinage to Britain over a thousand years before it was adopted in Ireland. The native Irish resisted state-issued money, relying instead on barter and bullion well into the second millennium.
In ancient Ireland, the absence of coinage was a testament to a society that was stateless, highly decentralised, and it embraced a polycentric legal system varying between clans. The ideal of that society was that no man in society has rule over others, and even kings could be disposed of if they abused their power.
So it’s perhaps no coincidence that Ireland was the last European society to adopt coinage, as coinage gives power to rulers. Eventually, it was forced upon the land by the English crown in 1601, this period coincided with the final stages of the Nine Years’ War (1594-1603) and the increasing English control over Ireland. To this day, Ireland has never had its own free-floating currency; it has always been tethered to external powers: first the pound sterling, then the European Monetary System, and now the euro under the ECB. So it should come as no coincidence that in recent years, the EU is growing unabated in power and influence over Ireland.
“Give me control over a nation’s currency, and I care not who makes its laws.” — Mayer Amschel Rothschild (1743–1812)
Perhaps, given this historical context, Ireland is uniquely positioned to understand the value of sound, stateless money. Bitcoin represents a return to the monetary independence that preceded state-issued currencies, but with the technological advantages of the digital age. Where ancient Irish kingdoms used market goods that couldn’t be manipulated by distant authorities, Bitcoin offers a modern equivalent: a system that can’t be debased or controlled by any power, whether domestic or foreign.
This historical skepticism toward centrally-controlled currency is resurfacing in the present, as the Irish state and its citizens face a new wave of economic uncertainty via euro debasement and tariffs. Geopolitical and economic tensions have rarely felt less stable. Tariff disputes, renewed questions over Ireland’s foreign direct-investment model, and potential tech and pharma layoffs are sure to sharpen the focus on sovereignty and resilience. The release of “A Sound Punt” is timely, inviting the nation to once again question the wisdom of tying its fortunes to distant monetary authorities.
A Political Crossroads
Coinciding with the release of “A Sound Punt,” Dr. Niall Burke—a respected academic and BNI member—will be putting forward two motions at the Aontú Ard Fheis (party conference). Aontú, the party that saw the largest surge in votes in the last general election, has shown itself to be receptive to Bitcoin and is opening its doors to conversations that, until recently, were relegated to the margins. That Bitcoin motions are being presented and accepted at a major party conference is a marker of how the conversation is turning.
Meanwhile, the Bitcoin Ireland Conference is gathering the country’s growing community of plebs, builders, and advocates. These circles, once on the periphery, are now finding doors opening in political circles.
Public Discontent and a Call for Financial Autonomy
It’s not just Bitcoiners who are seeking alternatives. Ireland is witnessing its largest public demonstrations since the post-GFC days of 2012. Recent marches have drawn in excess of 100,000 people to the streets of Dublin. These protests reflect deep frustration and a sense that the political establishment is no longer in alignment with its people.
What’s particularly striking is how Bitcoin could serve as common ground for seemingly opposing interests. For protesters, Bitcoin offers protection from inflation and defends against government overreach. For a government concerned about economic stability and growth, Bitcoin may be the very solution it needs, especially to protect pension funds and indeed the state’s very own investment fund—ISIF, from inflation over the coming decades. This is the paradox and promise of sound, stateless money. It serves everyone’s interests because it enforces property rights, and can’t be captured or controlled by any single faction.
Last, but not least, MMA star Conor McGregor’s foray into both politics and Bitcoin is something few would have predicted a year ago, but for those with an ear to the ground, this has been a developing story for some time. His proposal for a national Bitcoin reserve is emblematic of a broader national shift: Bitcoin is finally entering the Zeitgeist and perhaps he, like BNI, has a part to play in keeping it there.
Bitcoin is an open-source monetary protocol, and adoption comes from all quarters, irrespective of politics. Bitcoin is neutral, it supports no partisan cause. What’s perhaps not recognized enough is how empowering Bitcoin can be and we should focus on its ability to unite rather than divide, giving every Irish citizen—regardless of their political views—tools for individual liberty, inflation protection, as well as practical solutions for businesses.
Back to “A Sound Punt” Paper
The paper itself makes a compelling case for Ireland’s interest in Bitcoin: