đ Global Crypto Developments
đ§đš Bhutan Embraces Green Crypto Mining
Bhutan is leveraging its abundant hydropower resources to mine environmentally friendly cryptocurrencies. The initiative aims to stimulate economic growth, provide employment opportunities, and curb youth emigration. Profits from past crypto investments have even been used to pay government salaries. The country plans to expand its hydropower capacity to attract multinational companies seeking sustainable digital assets .â
đşđ¸ U.S. Crypto Policy and Market Movements
Trump Nullifies IRS Crypto Broker Rule
President Donald Trump signed a bill nullifying a revised IRS rule that sought to classify decentralized cryptocurrency exchanges (DeFi) as brokers, thereby subjecting them to tax reporting requirements. The move was welcomed by the cryptocurrency industry, which argued that DeFi platforms lack the necessary user data to meet such requirements .â
Trump Meme Coin Unlock Sparks Sell-Off Fears
A major event in the crypto space involves the imminent unlocking of 40 million Official Trump meme coins, valued at approximately $320 million. These tokens, owned by affiliates of the Trump Organization, begin unlocking around April 17 and will continue daily over two years. Experts anticipate a rapid price decline, potentially dropping to $3 by the end of May .â
