【DeFi Revival? Regulatory Turnaround, Concept Coins Surge, Why?】

Last night, the U.S. Senate passed the CRA resolution, abolishing the 'DeFi Broker Rules.' Concept coins soared in response, with AAVE skyrocketing by 22.74%! Whales are buying up, and Trump is supportive. Can this wave of good news ignite a bull market?

The Binance DeFi Index futures rose by 6.63%, and Sosovalue shows the DeFi sector leading with +5.84%.

Leaders:

$AAVE , +22.74%;

MKR, +1.05%;

$UNI , +8%;

$CRV , +8.19%.

What is the CRA resolution?

The CRA resolution aims to abolish the 'DeFi Broker Rules' crafted by the Biden administration at the end of 2024.

This rule requires DeFi protocols to comply with strict tax reporting requirements, and DeFi users must report the total earnings from selling cryptocurrencies and other digital asset transactions, including the relevant taxpayer's data. (Note, this legal framework was originally set to take effect on January 1, 2025, but is currently postponed to 2026.)

The agreement is seen as an increase in regulation on the crypto industry, targeting the sector, and is severely inconsistent with Trump's crypto commitments.

David Sacks @davidsacks47 stated that the 'DeFi Broker Rules' are an attack by the Biden administration on the crypto community at the last moment. The White House supports the CRA action, calling it an important part of 'Trump's Crypto Week.'

Next, the resolution will enter the House of Representatives for voting. If passed, Trump can sign it into effect.

In summary, this is currently seen as a 'positive' for DeFi protocols.

Today, a whale bought $4 million + AAVE, $2.75 million + MKR, $1.1 million ENA, etc. Not sure if this is related.

However, the AAVE proposal has initiated a buyback, which may also be a driving factor for the rise in DeFi.