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US House follows Senate in passing resolution to kill IRS DeFi broker rule
The US House of Representatives has voted in favor of nullifying a rule that would have required decentralized finance (DeFi) protocols to report to the Internal Revenue Service.
On March 11, the House of Representatives voted 292 for and 132 against a motion to repeal the so-called IRS DeFi broker rule that aimed to expand existing IRS reporting requirements to crypto.
All 132 votes to keep the rule were Democrats. However, 76 of those in the party joined the Republican vote to repeal it.
This follows the US Senate’s March 4 vote on the motion to repeal, which saw it pass with a vote of 70 to 27.
The rule would force DeFi platforms, such as decentralized exchanges, to disclose gross proceeds from crypto sales, including information regarding taxpayers involved in the transactions.
Speaking after the vote, Republican Representative Mike Carey, who submitted the repeal motion, said, “The DeFi broker rule invades the privacy of tens of millions of Americans, hinders the development of an important new industry in the United States and would overwhelm the IRS.” Read More
BBVA gets OK for cryptocurrency trading in Spain
Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA) has received approval from the country’s financial regulator to offer Bitcoin (BTC) and ether (ETH) trading to its clients, according to Reuters.
BBVA’s expansion into cryptocurrency trading follows the full implementation of the Markets in Crypto-Assets Regulation (MiCA) at the end of 2024. The approval allows BBVA to provide its clients with access to digital assets, concluding a multi-year process for the bank to enter the cryptocurrency market. Although MiCA is now in effect, cryptocurrency companies in the European Union have until July 2026 to comply with the regulation during an 18-month transition period.
MiCA has driven traditional financial institutions and cryptocurrency-native companies to speed up their efforts to secure licences and expand their cryptocurrency services. Brokerage firm Hidden Road was granted a MiCA license in the Netherlands on December 30, 2024. Standard Chartered received approval in Luxembourg on January 9, and Boerse Stuttgart Digital Custody became the first MiCA-licensed cryptocurrency service provider in Germany on January 17.
Cryptocurrency firms are also adjusting to the new regulatory environment. In January 2025, major exchanges like OKX, Crypto.com, and HashKey obtained MiCA approval. Bybit, which experienced one of the largest hacks in cryptocurrency history, was recently removed from France’s banlist and seems to be seeking a MiCA licence at present. Read More
Texas Set To Create First State-Run Bitcoin and Crypto Reserve After Passage of Senate Bill 21
Texas could become the first state to have a strategic Bitcoin (BTC) reserve following the passage of a new bill that allows it to invest in and manage crypto assets.
On Thursday, the Texas Senate voted 25-5 to pass Senate Bill 21, or the Texas Strategic Bitcoin Reserve and Investment Act.
The legislation seeks to establish the Texas Bitcoin Reserve for the Lone Star state, or a special fund outside the state treasury that stockpiles BTC and other cryptocurrencies with a market capitalization of at least $500 billion.
Reads SB 21,
“The establishment of a strategic Bitcoin reserve serves the public purpose of providing enhanced financial security to residents of this state and providing a mechanism to receive donations of Bitcoin and other cryptocurrencies.”
If the bill is signed into law, the state comptroller would have custody of and manage the crypto reserve and would have the authority to acquire, exchange and sell digital assets. Read More
The strategic crypto reserve will fuel ecosystem growth
The US strategic crypto reserve featuring Bitcoin, Ether, XRP, Solana and Cardano legitimizes these platforms, enabling ecosystem growth, investment and innovation across DeFi, infrastructure and blockchain gaming.
Opinion by: Tim Haldorsson, founder of Lunar Strategy
When US President Donald Trump announced the US strategic crypto reserve on March 2, the immediate focus fell on the price surges of the included coins. Behind the market excitement lies a much bigger story that extends far beyond the named assets themselves.
The real opportunity lies not in holding Bitcoin, Ether, XRP, Solana and Cardano — it’s in building on these newly legitimized platforms.
This government endorsement creates fertile ground for an entire ecosystem of projects, unleashing innovation across multiple sectors while creating investment opportunities that could define the next wave of blockchain adoption.
Projects on legitimized platforms are ready for growth:
The strategic reserve announcement fundamentally changed the risk profile for projects building on these networks. Developers quietly building on Ethereum, Solana and Cardano now find themselves on government-approved foundations. This validation removes significant uncertainty — a crucial factor for attracting users and capital. Read More
Coinbase to Launch 24/7 Bitcoin, Ethereum Futures for US Customers
The San Francisco-based exchange is working to catch up with offshore platforms that already offer round-the-clock futures.
Crypto exchange giant Coinbase will soon offer Bitcoin and Ethereum 24/7 futures trading via its Coinbase Derivatives platform—a first for U.S. clients.
The San-Francisco-based firm said Monday that the platform would make the service available in the coming weeks but did not specify an exact date.
Coinbase added that 24/7 trading of such contracts would give traders "uninterrupted access to manage risk and seize opportunities—just like crypto."
"Built in response to strong demand from crypto-native traders, these innovations make US markets more accessible, competitive and aligned with global standards," Coinbase said in its announcement.
Futures trading allows people to buy or sell the underlying asset—in this case Bitcoin or Ethereum—at a given price at a predetermined expiration date. Coinbase said that the service would offer different-sized contracts for traders. Read More
The Markethive R² Principle Explained. Reach and Returns: Subscriptions vs Qualifications
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Markethive is a hybrid platform comprising social media, inbound marketing, and digital broadcasting within a cryptocurrency ecosystem, with many strings to its bow. Markethive operates on a fundamental principle that can be summarized as "Reach and Returns," represented as R².
This dual focus highlights the platform's commitment to providing both extensive marketing and broadcasting capabilities and effective tools and systems for cultivating a strong customer base. This principle is at the core of Markethive's operations, emphasizing the platform's focus on both reaching a broad audience and delivering significant returns on your investment, time, and qualifications.
"Reach" refers to Markethive's capacity to disseminate your message, products, or services to a broad audience. This is achieved through features and strategies designed to maximize visibility and engagement. For instance, our social media integration allows you to reach potential customers across various platforms, and our targeted advertising tools ensure your message is seen by the right audience. All these are made possible through the Markethive a-la-carte subscriptions.
"Returns," on the other hand, signifies the platform's emphasis on generating tangible results from your efforts. By providing tools to attract, nurture, and convert leads into customers and clients, Markethive aims to deliver a substantial return on your investment of time, skills, and resources through the Markethive KEY qualification.
This dual approach ensures that your marketing efforts are far-reaching and impactful, ultimately leading to significant growth and success for your business. Whether you're looking to expand your brand awareness, generate leads, or drive sales, Markethive's R² principle provides a comprehensive framework for achieving your marketing goals and return on investment within the Markethive Ecosystem. Read More
Web3 devs, gamers, investors thrive despite India’s crypto policy hurdles
India’s contribution to the global Web3 ecosystem — primarily in software development, gaming, investments and startup funding — increased year-on-year despite an absence of locally tailored crypto regulations.
India’s share of global Web3 developers grew from 5% to 12% in the last 10 years, second only to the United States as of 2024, according to the India Web3 Landscape Report 2024 by Hashed Emergent, shared with Cointelegraph.
Speaking to Cointelegraph, Tak Lee, CEO and Managing Partner at Hashed Emergent, pointed out four key factors driving India to the top of global crypto adoption: retail crypto transactions on centralized services, highest trading volumes, institutional adoption and retail DeFi transactions.
Gen Z dominates the Web3 developer landscape in India:
The growth is driven by the younger generation, as roughly 80% of all blockchain developers in India are between 18 and 27 years of age. The Indian developers in DeFi, Payments, AI and SocialFi prefer Solana as the go-to blockchain.
Ton, Aptos and Base are steadily gaining momentum across other key sectors, driven by the expanding presence of layer-1 and layer-2 ecosystems, the report noted. Read More
The Emergence of Layer-Two Solutions – How They’re Transforming Blockchain Scalability and Ushering In a New Era of Crypto Innovation
In the ever-evolving world of blockchain technology, scalability has been one of the most significant challenges.
As blockchain networks like Ethereum (ETH) continue to see exponential growth, layer-two solutions are emerging as a vital component in addressing issues of network congestion and high transaction fees.
In this post, we’ll dive into the latest developments in layer-two technology, its impact on blockchain scalability and how it’s paving the way for a more efficient and sustainable future for DeFi (decentralized finance) and beyond.
Understanding layer-two solutions:
Blockchain networks like Bitcoin (BTC) and Ethereum have often been criticized for their limited transaction throughput and scalability.
Layer-two solutions aim to solve this problem by providing a secondary framework that operates on top of the main blockchain (layer one), allowing for faster, cheaper and more scalable transactions.
There are different types of layer-two solutions, including the following.
Coinbase Acquires Blockchain Startup’s Team To Enhance Privacy Efforts on the Base Network
The top US-based crypto exchange platform Coinbase is acquiring a blockchain startup’s team to bolster its privacy efforts on Base.
In a new announcement, Coinbase says it is onboarding the development team of layer-1 project Iron Fish (IRON) to help develop “privacy-preserving primitives” on Base, the crypto exchange’s proprietary blockchain.
Coinbase highlights that it is not acquiring Iron Fish itself, its token or its technology.
“Privacy isn’t just a feature, it’s a right – and it’s critical for unlocking the full potential of crypto. Today, we’re taking a major step toward that future by acquiring the team behind Iron Fish…
This team brings a strong track record of helping builders by developing privacy-preserving tools and technology that are safe, accessible and compliance-friendly.”
According to Coinbase, the Iron Fish team will help the firm establish new standards for privacy, make development easier for builders and reinforce anonymity for everyday users. Read More
Chainlink Creator Sergey Nazarov Says Crypto Is How the US Will Maintain Its Role in Global Financial System
Chainlink (LINK) creator Sergey Nazarov says that the Trump Administration’s recent embrace of digital assets could be what the US needs to cement its global financial dominance.
Speaking at the first ever White House Crypto Summit in Washington, D.C. with other industry leaders, Nazarov says he’s grateful for President Trump’s circle of experts finally taking the industry seriously after years of anti-crypto regulation.
Addressing Trump, Nazarov says,
“I just want to express my deep gratitude for the seriousness with which you are approaching our industry and how you’re actually helping guide it in the right direction. I work with many central banks in other countries and when I was working there I was wondering why, I, as an American citizen, can’t help the United States financial system reach this higher level that the world is on course toward generally, and so I’m very grateful that finally there’s been a new level of common sense and adoption of these ideas.
Me and the other people in this room do believe that the crypto, blockchain, and Web3 infrastructure is the next iteration of the financial system, and I think that the US should have its leadership position continue in that new financial system, and I’m very, very happy to see people like David Sacks, Secretary Bessent, Secretary Lutnick taking this very seriously with their time…
I’m just overjoyed to see this, and I think it’s a big part of how the US can continue its role in the global financial system.” Read More
Coinbase Plans New Hiring Spree of 1,000 Employees To Support US Operations This Year: Brian Armstrong
The chief executive of Coinbase says that the crypto exchange is planning to hire 1,000 new employees in the US this year.
In a new thread on the social media platform X, Coinbase CEO Brian Armstrong says the firm is going on a hiring spree after hearing what regulators had to say about the digital assets industry at the White House Crypto Summit.
According to Armstrong, President Donald Trump’s signing of an executive order last week to create a strategic Bitcoin (BTC) and crypto reserve will lead to an economic boom for the US, one that Coinbase plans to be ready for.
“President Trump has breathed life back into the crypto industry. Coinbase is planning to hire about 1,000 people here in the United States this year as a direct result of his actions… These policies really matter. This is also the most pro-crypto Congress we’ve ever seen as well…
We’re going to see if we can get some legislation passed as the next step. There’s already stablecoin legislation being drafted in the House and the Senate, there’s market structure legislation that will help clarify which of these crypto assets are commodities, securities, payment tokens or something else like artwork.
And I think we can get the strategic Bitcoin reserve that got announced [earlier] codified into law.” Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
Featured Image Source: Pixabay
