Imagine a world of money that isn't controlled by banks! That's DeFi (Decentralized Finance). Recently, the US Senate voted to stop a rule that would have made it hard for DeFi to work. This is good news for people who like the idea of online money being free and open.
- The Senate voted to remove a rule that would have forced DeFi to report every transaction to the government.
- This rule was thought to be too difficult for DeFi because it's not run by a single company.
- Experts worry that too many rules might push DeFi out of the US to other countries.
| Topic | Fact/Prediction |
|---|---|
| Tax Gap | The US government estimates it loses $50 billion yearly from untaxed crypto transactions. |
| DeFi Hacks | Over $1.8 billion was stolen from DeFi platforms in 2023. |
| Future of DeFi | The future of DeFi in the US depends on creating rules that work with its unique technology. |
