XRP News Today: Biden’s Tax Rule Fuels Crypto Volatility—Impacts XRP and BTC

By: Bob Mason

Published: Dec 28, 2024, 04:20 GMT+00:00

Key Points:

Biden’s crypto tax rule targets DeFi trading, stablecoins, and NFTs, sparking legal and Congressional challenges.

SEC’s Ripple case deadline looms; an appeal could force XRP de-listings, while a withdrawal could drive demand.

BTC falls below $95K, pressured by ETF outflows, Biden’s crypto tax rule, and Fed rate uncertainty.

War on Crypto: Biden Crypto Tax Rule Hits XRP

On Friday, December 27, the Biden administration finalized its crypto broker tax reporting rule. Bill Hughes, a lawyer at Consensys and formerly with the Department of Justice, shared details about the incoming tax rule, stating