Beginners

Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

The First U.S. Crypto Law is Now in Effect! Trump Has Eliminated DeFi Regulations!

Source Tradingkey

TradingKey - President Trump has signed a cryptocurrency bill. This officially removes the DeFi broker rules. It eases regulatory requirements for the industry.

On Thursday, Trump signed the bill to repeal the DeFi broker rules. This marks the first U.S. legislation specifically for cryptocurrency.

The DeFi broker rules were introduced by the Biden administration in 2021. They required decentralized platforms to comply with IRS demands. This included providing data on customer information and total crypto sales revenue.

The rules faced quick backlash. Critics argued they would hinder DeFi development. Republican Senator Ted Cruz pushed to repeal these rules, and now he has Trump’s support. Cruz attended the signing ceremony and stated, "This regulation will undermine America’s leadership in crypto. I thank President Trump for signing my resolution into law."

Cruz added, "We are protecting developers building the future of cryptocurrency. We clearly state that America will not cede digital leadership to China. We will preserve the ability for Americans to trade without government interference."

Source

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Bitcoin Plunges Below $100,000: Market Panic Intensifies as Analysts Warn of Bear Market Ahead Bitcoin's price has plummeted beneath the $100,000 mark, reflecting increased caution in the market toward risk assets. With large investment funds and corporate treasuries pulling back, signs of a bear market are becoming apparent, leading analysts to note a significant decline in market sentiment. Concurrently, demand for protective options in the derivatives market has surged, indicating heightened investor fears about future price movements. Despite Bitcoin maintaining some gains since the beginning of the year, recent trends raise concerns, necessitating close attention to upcoming critical support levels.

Author Mitrade

Yesterday 02: 16

Bitcoin's price has plummeted beneath the $100,000 mark, reflecting increased caution in the market toward risk assets. With large investment funds and corporate treasuries pulling back, signs of a bear market are becoming apparent, leading analysts to note a significant decline in market sentiment. Concurrently, demand for protective options in the derivatives market has surged, indicating heightened investor fears about future price movements. Despite Bitcoin maintaining some gains since the beginning of the year, recent trends raise concerns, necessitating close attention to upcoming critical support levels.

Yen Slips as Japan Embraces Low Rates; Aussie Rises on Job Gains The yen weakens significantly against the euro and dollar after Japan's Prime Minister supports sustained low interest rates. In contrast, the Australian dollar gains strength following better-than-expected employment figures, reducing the likelihood of near-term rate cuts.

Author Mitrade

Nov 13, Thu

The yen weakens significantly against the euro and dollar after Japan's Prime Minister supports sustained low interest rates. In contrast, the Australian dollar gains strength following better-than-expected employment figures, reducing the likelihood of near-term rate cuts.

Samsung Electronics Forecasts Stronger-Than-Expected Q3 Profit on AI Demand Samsung forecasts Q3 profit of 12.1 trillion won, boosted by strong AI chip demand.

Author Mitrade

Oct 14, Tue

Samsung forecasts Q3 profit of 12.1 trillion won, boosted by strong AI chip demand.

Dollar Gains as US-China Trade Tensions Ease The U.S. dollar remained steady on Tuesday following a shift in President Donald Trump’s harsh stance on tariffs against China.

Author Mitrade

Oct 14, Tue

The U.S. dollar remained steady on Tuesday following a shift in President Donald Trump’s harsh stance on tariffs against China.

Asian Stocks Mixed as Commodities Pause and Yen Draws Attention Asian equity markets struggled to close the week on a weak note Friday, influenced by ongoing losses on Wall Street that extended into early Asian trading.

Author Mitrade

Oct 10, Fri

Asian equity markets struggled to close the week on a weak note Friday, influenced by ongoing losses on Wall Street that extended into early Asian trading.

Popular Symbols