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Bullish
Trump signed a pro-crypto measure
By signing a crypto-related measure into law, Donald Trump has created history by reversing an IRS regulation endangering the future of DeFi.
Officially undoing an IRS regulation from the Biden administration targeting decentralized finance (DeFi), Donald Trump has become the first U.S. president to sign a crypto-related statute into law. The regulation would have compelled DeFi protocols to comply with the same tax reporting guidelines as conventional brokers—a decision harshly attacked as unrealistic and detrimental to the sector.
Critics said that the regulation compromised both privacy and innovation and that DeFi systems, which run via automated programming, could not reasonably comply with such criteria. Nevertheless, during Biden's last months in office the IRS pushed the rule forward.
Rare bipartisan support in Congress for the repeal emphasizes a general agreement that the regulation was too expansive. Celebrating Trump's decision as a historic change in crypto policy, industry experts said it was evidence the U.S. is headed toward a more pragmatic and innovative attitude to digital assets.
#BinanceSafetyInsights #SECGuidance #TariffsPause #MarketRebound #TRUMP $BTC $ETH $XRP
By signing a crypto-related measure into law, Donald Trump has created history by reversing an IRS regulation endangering the future of DeFi.
Officially undoing an IRS regulation from the Biden administration targeting decentralized finance (DeFi), Donald Trump has become the first U.S. president to sign a crypto-related statute into law. The regulation would have compelled DeFi protocols to comply with the same tax reporting guidelines as conventional brokers—a decision harshly attacked as unrealistic and detrimental to the sector.
Critics said that the regulation compromised both privacy and innovation and that DeFi systems, which run via automated programming, could not reasonably comply with such criteria. Nevertheless, during Biden's last months in office the IRS pushed the rule forward.
Rare bipartisan support in Congress for the repeal emphasizes a general agreement that the regulation was too expansive. Celebrating Trump's decision as a historic change in crypto policy, industry experts said it was evidence the U.S. is headed toward a more pragmatic and innovative attitude to digital assets.
#BinanceSafetyInsights #SECGuidance #TariffsPause #MarketRebound #TRUMP $BTC $ETH $XRP
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