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#WhiteHouseCryptoSummit
The Explanation Has Arrived!
LAST MINUTE: Cryptocurrency from the White House
David Sacks, the white house's cryptocurrency and artificial intelligence development, has released a new statement concerning the crypto sector.
The White House announced that it supports a congressional decision that aims to cancel the so-called "Brokerage DeFi Rule", in which it said critics unfairly targeted the cryptocurrency sector and decentralized finance (DeFi) platforms.
& David Sacks, the White House's cryptocurrency and artificial intelligence lefeder, confirmed that the administration supports the Congressional Review Act (CRA) resolution presented by Senator Ted Cruz and Representative Mike Carey.
S.J. The measure, known as Ap. 3, aims to cancel an Internal Revenue Service (IRS) rule published on December 30, 2024, which expands the definition of "intermediary" to include software that performs DeFi operations.
S The rule in question requires certain DeFi participants to report gross revenue from cryptocurrency sales and other digital asset transactions, including detailed information about the relevant taxpayers.
According to a Management's Management Policy, this regulation could have wide-ranging implications for the digital asset ecosystem, increase privacy concerns, and bring a significant alignment to American DeFi companies.
!! It is not an investment advice
#Bitcoin #Ethereum
The Explanation Has Arrived!
LAST MINUTE: Cryptocurrency from the White House
David Sacks, the white house's cryptocurrency and artificial intelligence development, has released a new statement concerning the crypto sector.
The White House announced that it supports a congressional decision that aims to cancel the so-called "Brokerage DeFi Rule", in which it said critics unfairly targeted the cryptocurrency sector and decentralized finance (DeFi) platforms.
& David Sacks, the White House's cryptocurrency and artificial intelligence lefeder, confirmed that the administration supports the Congressional Review Act (CRA) resolution presented by Senator Ted Cruz and Representative Mike Carey.
S.J. The measure, known as Ap. 3, aims to cancel an Internal Revenue Service (IRS) rule published on December 30, 2024, which expands the definition of "intermediary" to include software that performs DeFi operations.
S The rule in question requires certain DeFi participants to report gross revenue from cryptocurrency sales and other digital asset transactions, including detailed information about the relevant taxpayers.
According to a Management's Management Policy, this regulation could have wide-ranging implications for the digital asset ecosystem, increase privacy concerns, and bring a significant alignment to American DeFi companies.
!! It is not an investment advice
#Bitcoin #Ethereum
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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