History of Bitcoin in the United States
US regulators set many of bitcoin's ground rules: FinCEN's 2013 guidance on exchanges, the IRS treating bitcoin as property in 2014, the CFTC calling it a commodity in 2015, futures in 2017, spot ETFs in January 2024 and a Strategic Bitcoin Reserve in March 2025.
Facts checked 26 October 2026
Bitcoin in the United States today
- Spot bitcoin exchange-traded products have traded on US exchanges since the SEC approved them on January 10, 2024.
- A Strategic Bitcoin Reserve, funded with bitcoin forfeited to the government, was created by executive order on March 6, 2025; the government says it will not sell bitcoin placed in it.
Timeline: bitcoin in the United States
- 2013FinCEN guidance on virtual currency
March 18, 2013. FinCEN said that businesses which exchange or administer convertible virtual currencies such as bitcoin are money transmitters, while ordinary users are not.
- 2014IRS: bitcoin is property
IRS Notice 2014-21 said virtual currency is treated as property for federal tax purposes, so sales can create capital gains, and mined coins count as income.
- 2015CFTC: bitcoin is a commodity
September 17, 2015. In an order against Coinflip, the Commodity Futures Trading Commission held that bitcoin and other virtual currencies are commodities under the Commodity Exchange Act.
- 2017Bitcoin futures arrive
December 1, 2017. CME and Cboe Futures Exchange self-certified bitcoin futures, the first futures contracts on a virtual currency.
- 2024Spot bitcoin ETFs approved
January 10, 2024. The SEC approved the listing and trading of spot bitcoin exchange-traded products, after reviewing 10 applications at once. It stressed this was not an endorsement of bitcoin.
- 2025Digital asset executive order
January 23, 2025. President Trump set up a working group on digital asset rules, asked it to study a national digital asset stockpile and barred agencies from promoting a central bank digital currency.
- 2025Strategic Bitcoin Reserve
March 6, 2025. An executive order created a Strategic Bitcoin Reserve funded with bitcoin seized in criminal and civil cases. The government says it will not sell this bitcoin, and any extra purchases must cost taxpayers nothing.
- 2025GENIUS Act for stablecoins
July 18, 2025. The first federal law for payment stablecoins was signed. It requires full backing with liquid assets such as dollars or short-term Treasuries.
FAQ
How does the IRS treat bitcoin?
As property: IRS Notice 2014-21 said virtual currency is property for federal tax purposes, so selling it can create a capital gain, and mined coins count as income.
When were spot bitcoin ETFs approved in the US?
On January 10, 2024, when the SEC approved the listing and trading of spot bitcoin exchange-traded products after reviewing 10 applications.
Does the US government own bitcoin?
Yes. An executive order of March 6, 2025 created a Strategic Bitcoin Reserve funded with bitcoin forfeited in criminal and civil cases, which the government says it will not sell.
Sources (11)
- FinCEN Guidance FIN-2013-G001
- IRS Notice 2014-21
- History of the CFTC: 2010s - CFTC
- CFTC Statement on Self-Certification of Bitcoin Products by CME, CFE and Cantor Exchange
- Statement on the Approval of Spot Bitcoin Exchange-Traded Products - Chair Gary Gensler, SEC
- Fact Sheet: Executive Order to Establish United States Leadership in Digital Financial Technology - The White House
- Fact Sheet: President Donald J. Trump Establishes the Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile - The White House
- Establishment of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile - Federal Register
- Fact Sheet: President Donald J. Trump Signs GENIUS Act into Law - The White House
- Status Report of U.S. Government Gold Reserve, report as of October 31, 2020 - Bureau of the Fiscal Service
- Mineral Commodity Summaries 2026: Gold - USGS
History compiled from the sources listed, which we opened and checked in October 2026. Dates follow those sources; where they differ, we say so or leave the detail out.
Cite this page
For essays, articles and research. Prices on this page update daily, so the citations include today's date as the date you accessed it.
@misc{corgano2026historyofbitcoinin, author = {{Corgano}}, title = {History of Bitcoin in the United States}, howpublished = {\url{https://bitcoinprice.corgano.com/bitcoin-history/united-states}}, year = {2026}, note = {Corgano Bitcoin Price, accessed 2026-10-26}}