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Trump Repeals IRS Rule Targeting DeFi Platforms
Hodl Topic
April 11, 2025
🔥Heat Map:
🌍 Daily Crypto Market Overview
Global Stats:
Cryptocurrencies: 13.24M
Exchanges: 819
Market Cap: $2.56T -1.47%
24h Volume: $104.14B -37.65%
Bitcoin Dominance: 62.4%
Ethereum Dominance: 7.3%
ETH Gas Price: 0.52 Gwei
Fear & Greed Index: 21/100 (Fear)
🪙Top 5 Cryptocurrencies by Market Cap:
Name | Price | 24h Change | Market Cap | 24h Volume |
|---|---|---|---|---|
Bitcoin (BTC) | $80,591.37 | -1.23% | $1.60T | $43.93B |
Ethereum (ETH) | $1,539.13 | -4.26% | $185.75B | $20.61B |
Tether (USDT) | $0.9993 | -0.03% | $144.25B | $79.46B |
BNB (BNB) | $578.49 | +0.77% | $82.42B | $1.74B |
Solana (SOL) | $115.03 | -0.33% | $59.35B | $4.23B |
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🚀 Trending on DexScan:
Fartcoin/SOL – $0.8586 +19.83%
TRUMP/USDC – $8.05 +0.70%
Fartcoin/USDC – $0.8623 +20.48%
Fartcoin/SOL – $0.8614 +20.22%
TDCCP/SOL – $1.34 +13.89%
💹 Market Highlights:
Total DeFi Volume: $8.62B
Stablecoins Volume: $100.04B
Coin with highest % change: BABY +4950.71%
📈 Preview On Today’s News:
- Trump Repeals IRS Rule Targeting DeFi Platforms
- Ethereum's High-Stakes Overhaul: Pectra & Fusaka Redefine the Blockchain Battlefield
- State Bets on Bitcoin: New Hampshire Advances Bold Reserve Bill
Keep reading below for more!
Today’s News:
1)
Trump Repeals IRS Rule Targeting DeFi Platforms
In a landmark move for the digital asset industry, President Donald Trump has signed legislation repealing a controversial IRS rule that sought to classify decentralized finance (DeFi) platforms as “brokers” required to collect and report user data. Originally finalized under the Biden administration, the rule faced criticism for being overly broad, threatening innovation, and imposing unworkable compliance demands on open-source projects. The repeal, led by Senator Ted Cruz and Representative Mike Carey, marks the first-ever crypto law in U.S. history and signals a shift toward a more innovation-friendly regulatory environment. Industry leaders hailed the decision as a major victory for privacy, decentralization, and the future of crypto in America.
Trump signed the first U.S. crypto law, repealing an IRS rule that would have forced DeFi platforms to report user data like traditional brokers.
The repeal, supported by bipartisan lawmakers and celebrated by the crypto industry, marks a major policy shift promoting innovation, privacy, and decentralized tech.
2)
Ethereum's High-Stakes Overhaul: Pectra & Fusaka Redefine the Blockchain Battlefield
Ethereum is preparing for its most pivotal network upgrades since the 2024 Shanghai update with the upcoming Pectra and Fusaka rollouts. Scheduled to begin with the Pectra client release on April 21, these upgrades aim to improve network efficiency, validator operations, and overall scalability. Pectra introduces enhancements such as EIP-7702 for delegated state management and sets a new staking cap of 2048 ETH—reshaping validator dynamics and inviting broader participation. Fusaka follows with efficiency-boosting protocols like EIP-7823 and EIP-7907. Together, these changes reflect Ethereum’s strategic push to lower costs, attract institutional involvement (e.g., Fidelity), and maintain a competitive edge in the rapidly evolving blockchain space.
Ethereum's upcoming Pectra and Fusaka upgrades will significantly enhance network efficiency, introduce delegated state management (EIP-7702), and restructure validator participation with a 2048 ETH cap.
With implementation starting April 21, the upgrades mark Ethereum’s boldest move since Shanghai 2024, aligning with market demands and signaling a shift toward broader institutional adoption.
3)
State Bets on Bitcoin: New Hampshire Advances Bold Reserve Bill
In a narrow 192-179 vote, New Hampshire’s House of Representatives passed House Bill 302, paving the way for the state to potentially allocate up to 10% of its public funds into digital assets like Bitcoin and precious metals. The legislation, now headed to the Senate, would allow the state treasurer to invest in cryptocurrencies with a market cap exceeding $500 billion—currently, only Bitcoin qualifies. Supporters, including Republican Rep. Jordan Ulery, argue this move could diversify revenue streams and generate substantial returns for the state. If enacted, New Hampshire would join a growing list of states embracing crypto reserves as part of public finance strategy.
New Hampshire’s House approved a bill to allow up to 10% of public funds to be invested in Bitcoin and precious metals, pending Senate approval.
Only cryptocurrencies with a $500B+ market cap—currently just Bitcoin—would qualify, signaling institutional interest in digital asset reserves.
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This newsletter (Hodl Topic, hodltopic.com) is based on our data and opinions, provided solely for informational purposes. It does not constitute financial advice. Cryptocurrency investments involve significant risks, so it’s essential to conduct thorough research and consult a qualified financial advisor before making any investment decisions. We are not liable for any financial gains or losses resulting from the use of this information.