US Bitcoin miners are facing increased costs due to new tariffs on Chinese-made mining equipment. The White House announced a 125% import tax on Chinese goods, adding to previous tariffs. It has led to a 145% increase in tariffs on Chinese imports since President Trump took office.
Bitcoin mining hardware manufacturers in Southeast Asia, including Bitmain and MicroBT, are being hit hardest by the tariffs.
US-based miners who rely on this equipment are facing higher buildout costs. Some are considering shifting operations abroad to remain competitive.
Despite the challenges, some believe these disruptions are temporary. US firms are onshoring production, while miners are urged to diversify supply chains and turn to domestic manufacturers.
However, the tariffs could slow US mining growth and shift activity to more cost-effective regions.
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Axie Infinity’s Jeff Zirlin views the high costs as an opportunity for strategic growth, urging Web3 teams to prepare for future expansion. Meanwhile, regional differences show that CPWs in the US and Western Europe surged in 2024.
In contrast, emerging markets like Latin America and Eastern Europe remain more affordable but volatile.
The Web3 gaming sector is also struggling, with a significant drop in funding. Blockchain gaming saw a 71% decrease in investment in Q1 2025, highlighting ongoing challenges for the industry.
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Lomond School in Scotland will become the first UK educational institution to accept Bitcoin for tuition, beginning in the autumn term of 2025. The school aims to prepare students for a changing financial world by integrating Bitcoin into operations and education.
The initiative is part of a broader push to teach ‘sound money principles’ based on the Austrian School of Economics. Bitcoin payments will be converted to fiat for now, though Lomond may hold BTC reserves in the future. Other cryptocurrencies will not be accepted at this time.
Globally, educational institutions are increasingly adopting Bitcoin. The University of Wyoming recently launched a Bitcoin Research Institute, and the University of Austin has allocated a portion of its endowment to BTC.
In the US, 41 Bitcoin reserve bills are active across 26 states, with Kentucky, Oklahoma, and Missouri leading efforts to establish state-level Bitcoin reserves.
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In a move to ease tensions in the tech industry, the US government has announced updates to its tariff guidelines. The updates offer exemptions for certain products, such as laptops, smartphones, and semiconductor machines.
These exclusions provide temporary relief to tech giants like Apple, which faced substantial challenges due to the threat of steep tariffs on their products. Apple, which manufactures the majority of its products in China, particularly iPhones, could have seen prices rise by up to 85% if tariffs were enforced.
China’s Ministry of Commerce acknowledged the exemptions as a small step but reiterated criticism of US tariffs, claiming they disrupt the global economy. The US has shown no intention of backing down, leaving future moves uncertain.
The latest tariff exemptions boosted cryptocurrency markets, with Bitcoin hitting $86,000. While offering short-term relief, long-term impacts on trade and tech remain unclear.
Companies like Apple still rely on China, while critics highlight Trump’s shift from ‘no exemptions’ to multiple exceptions.
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The Swiss franc and gold are currently leading the pack as safe-haven assets amid ongoing stock and bond market turmoil.
The Swiss franc has soared, outperforming many currencies, including the US dollar, which has dropped to 2018 lows.
The surge is mainly attributed to Switzerland’s long-standing neutrality and banking secrecy laws. These factors have made the country a financial safe haven for many years.
Gold has also seen impressive gains, reaching a record high of $3,240. The precious metal has risen by 125% since the pandemic lows and by 24% this year alone. In comparison, Bitcoin has failed to keep pace. Its price dropped from an ATH of $109,300 to $83,000, reflecting broader market concerns.
The Swiss National Bank (SNB) has also benefited from its substantial investments in top American companies and US Treasury bonds.
Despite rising recession fears and US-China trade tensions, gold and the Swiss franc are outperforming Bitcoin, US bonds, and stocks.
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Sweden may soon follow the lead of other nations by considering Bitcoin for its national reserves.
In a formal letter, Member of Parliament Rickard Nordin urged the Finance Minister to diversify Sweden’s foreign exchange reserves with Bitcoin.
He cited Bitcoin’s growing role as a hedge against inflation and highlighted its political significance in supporting freedom under authoritarian regimes.
Nordin’s call aligns with a broader international debate. Countries like El Salvador and Bhutan already hold Bitcoin in their treasuries. Some, like the US, plan to build reserves using Bitcoin confiscated in criminal cases, rather than purchasing it directly.
Despite growing political interest, Sweden’s regulatory stance remains cautious. Authorities have cracked down on crypto tax evasion, with 18 of 21 Bitcoin miners found to have submitted false tax returns. These false submissions resulted in nearly $90 million in taxes being evaded.
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China and Russia have reportedly started using Bitcoin for settling certain energy transactions. It is a development that signals a shift away from the US dollar in global trade.
The move comes amid growing trade tensions and increasing interest in decentralised digital assets. According to Matthew Sigel, Head of Digital Assets Research at VanEck, Bitcoin’s role in trade is evolving beyond speculation.
The report highlights a growing trend of using digital assets in practical commerce, particularly in energy markets. Bitcoin’s neutral and decentralised nature makes it an appealing option for countries facing financial restrictions.
The shift may reinforce Bitcoin’s role as a hedge against monetary instability as international players are seeking alternative settlement methods.
Bolivia also plans to use cryptocurrency for power imports, while EDF is exploring Bitcoin mining to monetise surplus electricity.
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Thailand has introduced a new legal framework targeting foreign, unregulated peer-to-peer (P2P) crypto platforms to combat online financial crime. The Thai SEC announced cabinet approval of updated emergency decrees, imposing strict measures on digital asset businesses in the country.
The amendments impose severe penalties on foreign crypto platforms, including up to three years in prison, fines of 300,000 baht (around $8,700), or both, for violations.
The SEC’s updated rules also empower authorities to block suspicious transactions and demand that crypto service providers report any scam-related activity. Other sectors, such as commercial banks, telecom companies, and social media platforms, now have joint responsibilities for preventing cybercrime.
SEC Secretary-General Pornanong Budsaratragoon stated that the aim is to reduce money laundering risks and minimise damage from online crimes. It will be achieved through stronger enforcement in collaboration with digital agencies.
Despite these stringent measures, Thailand remains open to innovation in the crypto sector. The country has made strides toward adopting blockchain technology, such as planning a blockchain-based trading platform for securities firms. It is also considering a stablecoin backed by government bonds.
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Guns N’ Roses guitarist Slash has permanently quit the social media platform X after his account was repeatedly hacked to promote a Solana-based meme coin. The attack, which occurred on 2 April, involved hackers using his verified account to falsely present the coin, called GUNS, as an official Guns N’ Roses project.
In his farewell tweet, Slash explained that his decision was driven by the repeated hacks. He signalled a shift in how he intends to stay connected with fans. He encouraged followers to explore his presence on other platforms.
The hack came just after April Fool’s Day, with hackers posting several promotional messages about the fake GUNS coin. The posts, which were eventually deleted, claimed the coin would launch soon and announced a $1M investment. While the token is still live, its market value has plummeted to around $3,300.
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On Thursday, President Donald Trump signed a resolution reversing an IRS rule. The rule would have required certain crypto brokers, including decentralized finance (DeFi) platforms, to report customer transactions to the tax agency.
The rule, scheduled to take effect in 2026, aimed to ensure tax compliance for crypto users but faced backlash from the industry.
The measure, part of the Biden administration’s efforts to strengthen crypto tax enforcement, was criticised for being technically difficult to follow and legally problematic. DeFi platforms do not act as intermediaries or possess user identities, which made the rule unworkable, according to industry leaders.
Lawmakers supporting the repeal argued that the rule hindered innovation, infringed on privacy, and would overload the IRS with unnecessary filings. Trump’s signature reflects his commitment to supporting the crypto industry and fostering a favourable environment for digital assets in the US.
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