The US Senate has voted 70 to 27 to repeal an IRS rule requiring decentralized finance (DeFi) platforms to report customer information, arguing that such platforms are not traditional brokers and would incur high compliance costs. This bipartisan decision, led by Senator Ted Cruz, reflects a growing recognition of the importance of crypto in the political landscape. Critics, however, warn that the repeal may push the digital asset industry further into the shadows, complicating efforts to combat financial crimes.
about US Senate Repeals IRS DeFi Reporting Rule in Bipartisan VoteHoward
0 posts last weekTrump Tariffs Impact Markets as Compromise Talks with Canada and Mexico Begin
Commerce Secretary Howard Lutnick indicated a decision on the newly imposed 25% tariffs on Canada and Mexico is expected soon, suggesting potential exemptions for some products. President Trump has not signaled plans to reverse these tariffs or the additional 10% tax on Chinese goods, which have already impacted financial markets. In a recent speech, Trump acknowledged the likelihood of higher consumer prices due to these tariffs, stating, “There will be little disturbance.”
about Trump Tariffs Impact Markets as Compromise Talks with Canada and Mexico BeginStocks Rally on Tariff Hints and Economic Growth Optimism
Stocks experienced a relief rally following comments from US Commerce Secretary Howard Lutnick, suggesting potential tariff rollbacks. Hong Kong shares surged as China’s economic growth target raised expectations for stimulus, while US and European equity-index futures also rose amid President Trump’s defense of his economic policies. Treasuries declined, and the dollar strengthened against all Group-of-10 currencies.
about Stocks Rally on Tariff Hints and Economic Growth OptimismTraders Anticipate Trump Tariff Relief Amid Market Volatility
As President Trump’s tariff plan pressured US stocks, Commerce Secretary Howard Lutnick hinted at potential tariff relief for Mexico and Canada, sparking a late trading rally in tech stocks and index futures. Despite mixed signals from the administration, strategists believe Trump may respond to market sentiment, with some suggesting a threshold for policy reversal based on the S&P 500’s performance. Concerns grow as Trump appears less focused on the stock market in his second term, complicating predictions about his reactions to market downturns.
about Traders Anticipate Trump Tariff Relief Amid Market VolatilityHoward Lutnick confirmed as US Commerce Secretary with focus on trade and Bitcoin
Howard Lutnick, a Bitcoin advocate and former CEO of Cantor Fitzgerald, has been confirmed as the U.S. Secretary of Commerce with a 51-45 Senate vote. His role will focus on trade policy, overseeing tariffs and economic data, while his pro-Bitcoin stance may influence federal perspectives on digital assets. Lutnick’s leadership is expected to align with President Trump’s aggressive trade enforcement strategies, potentially reshaping import policies and economic regulations.
about Howard Lutnick confirmed as US Commerce Secretary with focus on trade and BitcoinHoward Lutnick Confirmed as US Secretary of Commerce and Bitcoin Advocate
Howard Lutnick has been confirmed as the US Secretary of Commerce with a 51-45 Senate vote, positioning him to lead President Trump’s trade agenda. A Bitcoin advocate, Lutnick plans to implement tariffs to pressure other nations into reducing trade barriers, while also supporting stablecoins like USDT and USDC. He will resign from Cantor Fitzgerald to comply with government ethics requirements.
about Howard Lutnick Confirmed as US Secretary of Commerce and Bitcoin AdvocateYMCrypto Offers Free Cloud Mining for Ethereum and Altcoin Investors
YMCrypto, led by CEO Howard Elyashar, offers a regulated cloud mining platform that allows Ethereum and altcoin investors to earn daily rewards in Bitcoin, Litecoin, and Dogecoin without liquidating their holdings. New users receive a $30 free mining bonus, and the platform features military-grade security, zero fees, and a user-friendly interface, making it accessible for all investors. With flexible mining plans and instant payouts, YMCrypto positions itself as a secure and profitable solution for diversifying cryptocurrency portfolios.
about YMCrypto Offers Free Cloud Mining for Ethereum and Altcoin InvestorsBarclays Invests Nearly 137 Million in BlackRock Bitcoin ETF
Barclays holds approximately $137 million in BlackRock’s iShares Bitcoin ETF, owning 2,473,064 shares valued at $55.33 each. The bank is under investigation by the UK’s Financial Conduct Authority for potential anti-money laundering violations but continues to engage in blockchain initiatives, including a tokenized deposits pilot project.
about Barclays Invests Nearly 137 Million in BlackRock Bitcoin ETFTether Reports Record Profits and Expands USDT to Bitcoin Network
Tether, the largest stablecoin issuer, reported a record profit of over $13 billion for 2024, more than doubling its 2023 earnings. The company also announced that its USDT stablecoin will soon be integrated with Bitcoin’s base layer and the Lightning Network, enhancing its role in global finance. Despite its success, Tether faces scrutiny regarding the transparency of its fiat reserves, with calls for independent audits growing amid its increasing prominence.
about Tether Reports Record Profits and Expands USDT to Bitcoin NetworkHoward Lutnick questioned on Tether and illicit finance at nomination hearing
Howard Lutnick faced scrutiny regarding Tether and allegations of illicit finance during his nomination hearing for Commerce Secretary. The questioning highlighted concerns about financial practices and regulatory oversight in the cryptocurrency space.
about Howard Lutnick questioned on Tether and illicit finance at nomination hearing