Rule – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Thu, 04 Sep 2025 00:59:06 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.7 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Rule – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 US Bancorp Revives Crypto Custody After Rule Change https://earlybirdsinvest.com/us-bancorp-revives-crypto-custody-after-rule-change/ https://earlybirdsinvest.com/us-bancorp-revives-crypto-custody-after-rule-change/#respond Thu, 04 Sep 2025 00:59:05 +0000 https://earlybirdsinvest.com/us-bancorp-revives-crypto-custody-after-rule-change/

US Bancorp, a multinational financial services company, is restarting its crypto custody service, according to a report by Bloomberg on September 3.

This decision follows a recent regulatory adjustment that eased capital restrictions on banks dealing with digital assets.

The bank had first introduced its crypto custody solution in 2021 through a partnership with NYDIG. However, the service was paused after guidance from the Securities and Exchange Commission (SEC) required banks to hold extra capital on their balance sheets when handling crypto.

What is Defi 2.0? (Explained with Animations)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

That requirement was rolled back during President Donald Trump’s current administration, which prompted the bank to pick up where it left off.

Stephen Philipson, who leads US Bancorp’s institutional division, said the bank already had a clear plan in place.

He noted that while they are restarting with custody for Bitcoin
BTC


$111,867.01

, the long-term vision could include adding support for more digital assets. Those would need to pass the bank’s internal compliance and risk reviews.

The initial focus is on helping registered investment funds and Bitcoin exchange-traded fund (ETF) providers securely store their digital holdings. By taking this step, US Bancorp is positioning itself to serve clients in a market that’s becoming more active and regulated.

Rain and M0 recently secured nearly $100 million in venture funding as interest in programmable money rises. What did the two companies say? Read the full story.


]]>
https://earlybirdsinvest.com/us-bancorp-revives-crypto-custody-after-rule-change/feed/ 0 56635
U.S. Treasury Department Officially Revokes Controversial Crypto Broker Reporting Rule After Republican Lawmakers Vote It Down https://earlybirdsinvest.com/u-s-treasury-department-officially-revokes-controversial-crypto-broker-reporting-rule-after-republican-lawmakers-vote-it-down/ https://earlybirdsinvest.com/u-s-treasury-department-officially-revokes-controversial-crypto-broker-reporting-rule-after-republican-lawmakers-vote-it-down/#respond Fri, 11 Jul 2025 18:03:52 +0000 https://earlybirdsinvest.com/u-s-treasury-department-officially-revokes-controversial-crypto-broker-reporting-rule-after-republican-lawmakers-vote-it-down/

The Department of the Treasury is formally taking down a new rule that expanded the definition of a broker under the U.S. Tax Code.

The rule titled “Gross Proceeds Reporting by Brokers that Regularly Provide Services Effectuating Digital Asset Sales” classified decentralized finance (DeFi) exchanges as brokers required to furnish the Internal Revenue Service (IRS) with information on user transactions involving digital assets.

The rule was published in the Federal Register on December 30th during the final weeks of the Biden administration and took effect on February 28th.

In March, legislators from both chambers of Congress voted to repeal the controversial law, a move supported by President Donald Trump, who signed the bill reversing the crypto broker rule on April 11th.

The Treasury Department says the controversial rule now has no legal force or effect.

“Pursuant to the CRA (Congressional Review Act), any rule that takes effect and later is made of no force or effect by enactment of a joint resolution shall be treated as though such rule had never taken effect. Accordingly, the Treasury Department and the IRS are reverting the text of the section 6045 regulations back to the text that was in effect immediately prior to the effective date of the Final Rule.”

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

]]>
https://earlybirdsinvest.com/u-s-treasury-department-officially-revokes-controversial-crypto-broker-reporting-rule-after-republican-lawmakers-vote-it-down/feed/ 0 47076
JD.com, Ant Group Push for Yuan-Based Stablecoins to Counter Dollar Rule: Reuters https://earlybirdsinvest.com/jd-com-ant-group-push-for-yuan-based-stablecoins-to-counter-dollar-rule-reuters/ https://earlybirdsinvest.com/jd-com-ant-group-push-for-yuan-based-stablecoins-to-counter-dollar-rule-reuters/#respond Fri, 04 Jul 2025 11:38:16 +0000 https://earlybirdsinvest.com/jd-com-ant-group-push-for-yuan-based-stablecoins-to-counter-dollar-rule-reuters/

China’s JD.com and Ant Group are pressing the central bank to permit yuan-based stablecoins to counter the rise of U.S. dollar-linked digital currencies, Reuters reported on Friday.

They propose launching stablecoins in Hong Kong backed by the offshore yuan, aiming to boost the Chinese currency’s global role.

jwp-player-placeholder

Both firms already plan to issue Hong Kong dollar-backed stablecoins once local legislation begins August 1.

However, JD.com is advocating for offshore yuan stablecoins as a strategic move to support yuan internationalization. The push reflects China’s broader ambitions to challenge U.S. dominance in digital finance and expand the reach of its currency globally.

China has a long-standing ban on cryptocurrency transactions, which extends to most private stablecoins. This ban, particularly intensified in 2021, was motivated by concerns over financial crime, capital flight, and potential threats to financial stability.

As a counter, China poured resources into developing and piloting its own digital yuan (e-CNY). This central bank digital currency (CBDC) is seen as a way to modernize its payment system and exert greater control over its financial landscape.

Read more: Jack Ma’s Ant International Seeks Stablecoin Licenses in Hong Kong, Singapore: Bloomberg

]]>
https://earlybirdsinvest.com/jd-com-ant-group-push-for-yuan-based-stablecoins-to-counter-dollar-rule-reuters/feed/ 0 45721
Stablecoin Supply Tops $250B for First Time Ever: Tether and Circle Still Rule https://earlybirdsinvest.com/stablecoin-supply-tops-250b-for-first-time-ever-tether-and-circle-still-rule/ https://earlybirdsinvest.com/stablecoin-supply-tops-250b-for-first-time-ever-tether-and-circle-still-rule/#respond Thu, 19 Jun 2025 17:43:10 +0000 https://earlybirdsinvest.com/stablecoin-supply-tops-250b-for-first-time-ever-tether-and-circle-still-rule/

The total stablecoin supply has surpassed $250 billion for the first time, according to the latest stats shared by Delphi Digital. Yield-bearing stablecoins are expanding rapidly, with Ethena alone reaching nearly $6 billion since launch.

Tether’s USDT and Circle’s USDC continue to dominate the space, and collectively account for 86% of the outstanding supply. However, issuer diversity is rising, with over 10 stablecoins now exceeding $100 million in circulation.

Over $120 billion in US Treasuries are now held within stablecoins.

Forces Behind the $250B Stablecoin Boom

It is important to note that the market has rebounded significantly after key disruptions over the past four years, including the May 2022 collapse of Terra (UST), which triggered a loss of confidence in algorithmic stablecoins, and the March 2023 USDC de-peg caused by the regional banking crisis and Circle’s $3.3 billion exposure to SVB.

Recent growth can be attributed to broader digital asset market recovery, the 2024 launch of US-listed spot crypto ETFs, and a shift in sentiment under the Trump administration, which has increased institutional interest and adoption of digital assets.

As the stablecoin market matures and gains momentum, policymakers are stepping in with new legislation in a bid to solidify the US’s leadership in digital finance.

GENIUS Act Advances

After the Senate passed the GENIUS Act in a 68-30 vote, US President Donald Trump called on the House to act quickly to pass the bill. The Guiding and Establishing National Innovation for US Stablecoins Act. On Truth Social, Trump said the bill would make America the “undisputed leader in digital assets,” and urged lawmakers to avoid delays or amendments.

The bill’s sponsor, Senator Bill Hagerty, had previously highlighted its potential to speed up payment processing across the country. The House, controlled by a narrow Republican majority, is now expected to take up the vote.

Criticism of the GENIUS Act has been fierce in some quarters, particularly from Democratic lawmakers concerned about conflicts of interest. The bill initially stalled in May, failing a cloture vote amid worries over Trump’s crypto connections.

Senator Elizabeth Warren, for one, stated that the legislation could enable Trump and his family to earn “hundreds of millions” through their USD1 stablecoin. While Senator Mark Warner echoed ethical concerns, he warned that continued inaction would leave the US behind.

SPECIAL OFFER (Sponsored)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

]]>
https://earlybirdsinvest.com/stablecoin-supply-tops-250b-for-first-time-ever-tether-and-circle-still-rule/feed/ 0 42950
Flying soon? You need to know the new rule about power banks https://earlybirdsinvest.com/flying-soon-you-need-to-know-the-new-rule-about-power-banks/ https://earlybirdsinvest.com/flying-soon-you-need-to-know-the-new-rule-about-power-banks/#respond Thu, 22 May 2025 17:13:58 +0000 https://earlybirdsinvest.com/flying-soon-you-need-to-know-the-new-rule-about-power-banks/
anker nano power bank

Ryan Haines / Android Authority

TL;DR

  • Southwest Airlines passengers will need to keep portable chargers visible at all times on flights when they’re in use.
  • The new policy goes into effect on May 28.
  • This is the first US airline to update its rules, but several Asian airlines have already done so after growing concerns about lithium-ion battery fires on planes.

As Memorial Day fast approaches, that means everyone’s getting ready for their summer vacations. But if you’re flying with Southwest soon, then you need to be aware of a big policy change on its flights in regards to a daily necessity: portable chargers.

Beginning May 28, Southwest Airlines will require passengers using any kind of portable chargers with batteries in them, including power banks and phone battery cases, to keep them in plain sight while in use. This means that one cannot keep an active portable charger in overhead bins or even bags under the seat — they must be visible at all times during the flight when using them.

Though Southwest is the first US airline to update its rules about portable chargers, it’s possible that other airlines may follow. It’s important to note that this new rule only applies when the battery is connected and actively charging another device. Southwest told Gizmodo that the battery can stay in your carry-on bag if it’s not in use charging another device.

Several Asian airlines already have similar policies in place regarding portable batteries and chargers. The reasoning for the new rules is growing concern over lithium-ion battery fires on planes.

The OnePlus Slim Magnetic Power Bank on an iPhone 16.

Joe Maring / Android Authority

According to the Federal Aviation Administration, there have been 22 verified incidents this year involving a lithium-ion batteries, and 2024 had a record high of 89, with the trend continuing to grow. Since 2006, there have been a total of 620 incidents, and the top culprit involves lithium-ion batteries or battery packs, followed by vaping devices and then cellular phones.

In January, an Air Busan plane had a fire that burned through the roof of the plane as it was preparing to take off, which required all 176 people onboard to be evacuated. Though that particular fire hasn’t had the origin verified, several Asian airlines and Korean regulators updated rules about portable chargers after. Some Asian airlines are much more strict with the rule, like Singapore Airlines and Thai Airways, which have both prohibited using or charging power banks at all while on a flight.

In 2024, smoke from a laptop was seen coming from a passenger’s bag on a flight from San Francisco. Another flight in 2023 from Dallas to Orlando, Florida had to make an emergency stop in Jacksonville due to a battery in an overhead compartment catching fire.

Currently, the TSA bans both rechargeable and non-rechargeable lithium batteries for phones and laptops in checked bags, but have allowed passengers to keep them in their carry-on luggage. But with the new rule from Southwest, those will now need to be out of bags and visible when using them on the flight.

If you’re on a flight and see something on fire, it would be wise to inform the flight crew. They are trained to recognize and respond to lithium battery fires (or other issues) in the cabin, after all.

Got a tip? Talk to us! Email our staff at news@androidauthority.com. You can stay anonymous or get credit for the info, it’s your choice.
]]>
https://earlybirdsinvest.com/flying-soon-you-need-to-know-the-new-rule-about-power-banks/feed/ 0 37718
The Supreme Court was right to rule in favor of Maine’s anti-trans lawmaker, in Libby v. Fecteau https://earlybirdsinvest.com/the-supreme-court-was-right-to-rule-in-favor-of-maines-anti-trans-lawmaker-in-libby-v-fecteau/ https://earlybirdsinvest.com/the-supreme-court-was-right-to-rule-in-favor-of-maines-anti-trans-lawmaker-in-libby-v-fecteau/#respond Wed, 21 May 2025 03:13:29 +0000 https://earlybirdsinvest.com/the-supreme-court-was-right-to-rule-in-favor-of-maines-anti-trans-lawmaker-in-libby-v-fecteau/

There are no heroes in Libby v. Fecteau, a decision about an anti-trans lawmaker that the Supreme Court handed down on Tuesday. With only two justices publicly dissenting, the Court handed down a brief order temporarily lifting sanctions against that lawmaker.

The lawmaker at the heart of the case, Maine Republican Rep. Laurel Libby, was sanctioned by her colleagues for posting an unblurred picture of a transgender high school athlete, along with the student’s name and the name of her school, in order to protest against including transgender girls in women’s sports.

The sanction those colleagues imposed on her could not possibly be constitutional: They effectively stripped her of her right to vote on legislation as a member of Maine’s House of Representatives, stripping Libby’s constituents of their representation in the state House. And Libby’s fellow lawmakers likely also violated her First Amendment rights in the process.

As a legal matter, Libby closely resembles Bond v. Floyd (1966), a case brought by a Georgia state lawmaker who was not allowed to take his seat in the state legislature — ostensibly because his colleagues objected to his opposition to the Vietnam War. Bond held that the First Amendment “requires that legislators be given the widest latitude to express their views on issues of policy.”

To be sure, no moral comparisons can be drawn between the plaintiffs in Bond and Libby. Bond involved Rep. Julian Bond, a Black man and a prominent civil rights activist who was elected to the Georgia legislature just as Jim Crow was beginning to lose its grip on the South. Libby, by contrast, arises out of Libby’s decision to bully a high school student.

But the First Amendment protects offensive speech just as surely as it protects speech that is now widely viewed as prescient and wise. Indeed, nearly all First Amendment cases arise out of speech that someone in a position of power deemed offensive — why else would they have tried to censure or ban that speech?

After Libby posted the picture of the high school student on Facebook, Maine House Speaker Ryan Fecteau asked her to take it down due to concerns “that publicizing the student’s identity would threaten the student’s health and safety.” When Libby refused, the state House passed a resolution formally censuring her — which, under the Maine House’s rules, meant that Libby “may not be allowed to vote or speak” on the House floor until she apologizes for the conduct that resulted in her censure. Libby refuses to apologize, which means that her constituents effectively do not have representation in the state House, at least with respect to bills that receive a vote on the floor.

The Supreme Court’s order in the Libby case is very brief and does not explain why the justices decided to reinstate Libby’s floor privileges. Notably, however, none of the justices defended the state legislature’s decision to strip Libby of her voting rights.

The Court’s order includes a single line noting that Justice Sonia Sotomayor dissented, but Sotomayor did not explain why. Justice Ketanji Brown Jackson, meanwhile, penned a brief dissenting opinion which largely criticizes her colleagues for overusing the Court’s “shadow docket” — a mix of emergency motions and other matters that the Court decides without full briefing and oral argument. It was on this docket that Libby was heard.

As Jackson notes, the Court used to be exceedingly reluctant to rule in favor of parties that seek shadow docket relief — she quotes Justice Potter Stewart’s 1968 warning that such relief “should be used sparingly and only in the most critical and exigent circumstances.” And Jackson, who emerged as the Court’s most outspoken opponent of the shadow docket after she became a justice in 2022, is right that the Court’s practices have changed dramatically in recent years.

Prior to the first Trump administration, Supreme Court decisions on the shadow docket were exceedingly rare outside of death penalty cases, where the justices often had to act right away to prevent an execution from moving forward before they could review the case.

But, regardless of whether the justices should have acted as quickly as they did — or, as Jackson suggests, waited until the lower courts had fully considered this case before stepping in — there’s little doubt that Libby should have prevailed eventually. Libby’s constituents have a right to representation, regardless what views their representative holds.

And, if lawmakers were allowed to strip their colleagues of their voting rights at will, there’s no guarantee that another legislature would not use that power to target elected officials who, like Bond, can more easily claim the moral high ground than Libby.

]]>
https://earlybirdsinvest.com/the-supreme-court-was-right-to-rule-in-favor-of-maines-anti-trans-lawmaker-in-libby-v-fecteau/feed/ 0 37413
Coinbase Calls for Rule Change: Let SEC Employees Hold Crypto https://earlybirdsinvest.com/coinbase-calls-for-rule-change-let-sec-employees-hold-crypto/ https://earlybirdsinvest.com/coinbase-calls-for-rule-change-let-sec-employees-hold-crypto/#respond Tue, 29 Apr 2025 09:27:09 +0000 https://earlybirdsinvest.com/coinbase-calls-for-rule-change-let-sec-employees-hold-crypto/

Coinbase



$2.12B

is asking the US Office of Government Ethics (OGE) to lift a rule that stops staff at the Securities and Exchange Commission (SEC) from owning or using cryptocurrency.

Paul Grewal, Coinbase’s chief legal officer, requested two letters dated April 25, addressed to OGE acting director Jamieson Greer and new SEC Chair Paul Atkins.

In his letter to Greer, Grewal said, “To regulate technology, you need to understand it. To understand technology, you need to use it”. He also explained that allowing SEC employees to hold crypto would help them develop the knowledge required to design proper regulations for the digital asset industry.

What is Uniswap? (UNI Token Explained With Animation)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

The ban Grewal is challenging comes from Legal Advisory 22-04, issued by the OGE on July 4, 2022, which blocks SEC staff from buying, selling, or using cryptocurrencies and stablecoins.

In a second letter to Atkins and SEC Commissioner Hester Peirce, Grewal made a similar case but focused more specifically on the SEC’s Crypto Task Force. He said the team assigned to work on crypto policy cannot properly do its job without firsthand experience using digital assets.

Although only the OGE can officially remove the restriction, Grewal suggested, “Issuing waivers to crypto task force members and other staff actively working on task force matters would be consistent with measures already taken in commensurate advisory situations”.

A waiver would allow those staff members to test and evaluate digital assets without breaking any ethics rules.

Meanwhile, the European Data Protection Board (EDPB) has recently released draft guidelines to align the use of blockchain data with EU privacy laws. What do the guidelines entail? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.


]]>
https://earlybirdsinvest.com/coinbase-calls-for-rule-change-let-sec-employees-hold-crypto/feed/ 0 33416
IRS DeFi Rule Scrapped: Donald Trump Signs First Crypto Law https://earlybirdsinvest.com/irs-defi-rule-scrapped-donald-trump-signs-first-crypto-law/ https://earlybirdsinvest.com/irs-defi-rule-scrapped-donald-trump-signs-first-crypto-law/#respond Sat, 12 Apr 2025 07:22:42 +0000 https://earlybirdsinvest.com/irs-defi-rule-scrapped-donald-trump-signs-first-crypto-law/

On April 10, US President Donald Trump has approved a resolution that cancels a rule created during Joe Biden’s presidency.

The rule would have required decentralized finance (DeFi) platforms to report user transactions to the Internal Revenue Service (IRS).

The original policy, planned for 2027, aimed to expand the IRS’s authority. It would have forced DeFi protocols to share information about crypto sales and the people involved. This included reporting gross proceeds and user data, which many in the crypto industry saw as invasive.

10 Biggest Crypto Scams & How to Avoid Them (ANIMATED)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

The Blockchain Association, a major crypto advocacy group, welcomed the decision. The group’s CEO, Kristin Smith, said in an April 11 post on X that developers and entrepreneurs can continue working without fear of new restrictions.

She called the original rule damaging and said it could have seriously hurt the US crypto industry.

President Trump officially removed the rule by signing the resolution. According to Representative Mike Carey, who supported the measure, this marks the first time a crypto-related bill has been signed into law. He criticized the rule for putting too much pressure on the IRS and threatening user privacy and innovation.

Critics of the rule said it treated decentralized platforms like traditional financial brokers, despite the fact that they operate differently.

Meanwhile, the central bank digital currency (CBDC) Anti-Surveillance State Act passed the House Financial Services Committee with a close vote of 27–22. What does the bill entail? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.


]]>
https://earlybirdsinvest.com/irs-defi-rule-scrapped-donald-trump-signs-first-crypto-law/feed/ 0 30371
Trump Signs Bill Repealing IRS DeFi Broker Rule in Crypto Industry Win https://earlybirdsinvest.com/trump-signs-bill-repealing-irs-defi-broker-rule-in-crypto-industry-win/ https://earlybirdsinvest.com/trump-signs-bill-repealing-irs-defi-broker-rule-in-crypto-industry-win/#respond Fri, 11 Apr 2025 22:43:45 +0000 https://earlybirdsinvest.com/trump-signs-bill-repealing-irs-defi-broker-rule-in-crypto-industry-win/

In a landmark move, US President Donald Trump on April 10 signed into law a resolution repealing the IRS’s controversial “DeFi Broker Rule” and effectively blocked expanded tax reporting requirements for decentralized finance platforms.

The measure, introduced by Representative Mike Carey (R-Ohio) and supported in the Senate by Senator Ted Cruz (R-Texas), used the Congressional Review Act (CRA) to reverse the IRS rule finalized in late 2024. The law now prevents similar regulations from being reintroduced without new legislation.

DeFi Broker Rule Scrapped

The IRS rule in question aimed to broaden the definition of a “broker” to include developers of self-custodial wallets and DeFi applications – platforms that allow users to exchange digital assets directly without intermediaries.

Originally stemming from the 2021 Infrastructure Investment and Jobs Act, the rule sought to close perceived tax gaps in crypto trading by requiring these entities to report user transaction data to both the IRS and taxpayers. It was scheduled to take effect in 2027.

Critics argued that the rule was incompatible with how decentralized platforms operate. Unlike traditional brokerages, DeFi platforms typically do not collect or store personal information, which would make compliance with IRS reporting standards technically unfeasible.

Industry experts also warned that the rule could drive innovation offshore, as developers and companies might relocate to jurisdictions with less stringent oversight. Supporters of the rule, including some Democratic lawmakers, maintained that without such requirements, high-income crypto investors could exploit regulatory loopholes to avoid taxation.

Representative Carey hailed the repeal as a win for innovation and taxpayer privacy. He also praised President Trump’s support, aligning it with the administration’s broader pro-crypto agenda.

“The DeFi Broker Rule needlessly hindered American innovation, infringed on the privacy of everyday Americans, and was set to overwhelm the IRS with an overflow of new filings that it doesn’t have the infrastructure to handle during tax season. I thank President Trump for signing this important bill into law and Crypto Czar Sacks for his leadership in supporting America’s continued place as the global leader in the emerging crypto industry.”

Regulatory Reset

Since returning to office, Trump has formed a federal crypto task force and advocated for policies that encourage blockchain development.

The bill’s swift passage through Congress – clearing the House on March 11 and the Senate on March 26 – signals growing momentum within the Republican-led legislature to scale back regulatory intervention in crypto markets.

The Trump administration has adopted a more supportive stance on cryptocurrency and has signaled a complete shift in regulatory posture by scaling back the Securities and Exchange Commission’s (SEC) aggressive approach under former Chair Gary Gensler.

Several investigations and legal actions initiated against crypto companies during the Biden era have been dropped, and the securities regulator has started engaging with industry players to reassess its regulatory framework.

SPECIAL OFFER (Sponsored)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

]]>
https://earlybirdsinvest.com/trump-signs-bill-repealing-irs-defi-broker-rule-in-crypto-industry-win/feed/ 0 30317
Crypto Custody Rule Under Review as SEC Considers Changes https://earlybirdsinvest.com/crypto-custody-rule-under-review-as-sec-considers-changes/ https://earlybirdsinvest.com/crypto-custody-rule-under-review-as-sec-considers-changes/#respond Tue, 18 Mar 2025 13:41:16 +0000 https://earlybirdsinvest.com/crypto-custody-rule-under-review-as-sec-considers-changes/

The US Securities and Exchange Commission (SEC) is reconsidering a proposed rule that would have changed how investment advisers manage cryptocurrency holdings.

The rule, introduced in 2023 under former chair Gary Gensler, sought to require advisers to store client crypto assets with “qualified custodians”, such as banks or trust companies.

It was meant to strengthen investor protections but was widely criticized for being too restrictive.

Paper Hands vs Diamond Hands: Crypto Slang Explained (ANIMATED)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

Acting SEC chair Mark Uyeda recently acknowledged these concerns. Speaking at an investment conference in San Diego, he pointed out that the rule’s scope had raised objections. He stated, “Given such concern, there may be significant challenges to proceeding with the original proposal”.

Uyeda has directed SEC staff to work with the agency’s crypto task force to explore alternatives, including the possibility of scrapping the rule altogether.

He has also paused enforcement of certain crypto-related rules and is reconsidering how the SEC defines “exchanges”.

This is not the only policy from Gensler’s tenure under review. Some of these policies had led to legal challenges, including a lawsuit filed by 18 states before Gensler’s departure.

Meanwhile, the SEC recently postponed decisions on ETFs for XRP
XRP


$2.23

, Solana
SOL


$122.74

, Litecoin
LTC


$87.45

, and Dogecoin
DOGE


$0.1653

, with the next deadline set for May. Why? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.


]]>
https://earlybirdsinvest.com/crypto-custody-rule-under-review-as-sec-considers-changes/feed/ 0 25836