According to @CNBC, the IRS will implement new crypto reporting requirements that make a classic crypto tax cheat risky starting with 2025 tax returns, signaling tighter data matching on digital-asset transactions for U.S. filers (source: CNBC). For traders, this underscores that crypto is treated as property and capital gains or losses must be reported, making accurate cost-basis tracking and comprehensive transaction records essential to align with federal rules (source: IRS Notice 2014-21; IRS Digital Assets FAQs).

According to Fox News, a Minnesota Republican has officially announced a campaign for governor, pledging to address and 'fix' issues attributed to current Governor Tim Walz (source: Fox News, May 14, 2025). For crypto traders, this development is significant as a change in state leadership could influence Minnesota's approach to digital asset regulation, tax policies, and blockchain business incentives. Market participants should monitor the campaign's stance on cryptocurrency, as policy shifts at the state level may affect local and national sentiment, liquidity, and regulatory clarity for digital asset firms operating in Minnesota.