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 Uptrend Remains Alive Despite Bearish Pressure Below $78,800 Bitcoin continues to show resilience despite mounting bearish pressure below the critical $78,800 resistance zone. While short-term volatility and repeated rejections have slowed bullish momentum,

Author NewsBTC

15 hours ago

Bitcoin continues to show resilience despite mounting bearish pressure below the critical $78,800 resistance zone. While short-term volatility and repeated rejections have slowed bullish momentum,

How long can surging AI demand fuel Nvidia before infrastructure bottlenecks take over The world’s leading AI chip manufacturer delivered first-quarter earnings that surpassed Wall Street forecasts, yet questions emerge about obstacles that could slow the sector’s explosive expansion. Nvidia reported strong growth, with quarterly revenue up 85% year over year to $81.6 billion. Net profit more than tripled to $58.3 billion. The company also expects sales of...

Author Cryptopolitan

15 hours ago

The world’s leading AI chip manufacturer delivered first-quarter earnings that surpassed Wall Street forecasts, yet questions emerge about obstacles that could slow the sector’s explosive expansion. Nvidia reported strong growth, with quarterly revenue up 85% year over year to $81.6 billion. Net profit more than tripled to $58.3 billion. The company also expects sales of...

Quantum stocks jump after the U.S. government announced a $2 billion grant plan for nine companies Quantum stocks rallied today because the U.S. government is investing $2 billion in grants to nine companies working on quantum computing. The National Institute of Standards and Technology said it signed letters of intent with the companies. The U.S. government will also take minority stakes in each business, but those stakes will not give it...

Author Cryptopolitan

15 hours ago

Quantum stocks rallied today because the U.S. government is investing $2 billion in grants to nine companies working on quantum computing. The National Institute of Standards and Technology said it signed letters of intent with the companies. The U.S. government will also take minority stakes in each business, but those stakes will not give it...

Flare CEO says XRP set for institutional leap with confidential compute and DeFi expansion Hugo Philion, co-founder and CEO of Flare, wants to create a system that allows institutions to trade and lend using XRP-backed assets without exposing their activity to the public. The new system, called Confidential Compute, will launch in Q3 2026. Philion spoke in an interview with crypto YouTuber Crypto Sensei on YouTube, saying Flare is...

Author Cryptopolitan

15 hours ago

Hugo Philion, co-founder and CEO of Flare, wants to create a system that allows institutions to trade and lend using XRP-backed assets without exposing their activity to the public. The new system, called Confidential Compute, will launch in Q3 2026. Philion spoke in an interview with crypto YouTuber Crypto Sensei on YouTube, saying Flare is...

US-Iran Peace Deal Rumors Send Stocks Up $500 Billion as Oil Price Crashes Reports of a near-final US-Iran draft brokered by Pakistan added roughly $500 billion to US equities on May 21. WTI crude oil slid to $96.23, while Bitcoin (BTC) edged higher on ceasefire optimism.Al

Author Beincrypto

15 hours ago

Reports of a near-final US-Iran draft brokered by Pakistan added roughly $500 billion to US equities on May 21. WTI crude oil slid to $96.23, while Bitcoin (BTC) edged higher on ceasefire optimism.Al

Popular Symbols