Big news for cryptocurrency! The US Senate just stopped a new rule that would have made it harder for people using DeFi (decentralized finance – think of it like online banking without a big bank in charge) to pay their taxes. This means DeFi users won't have to share as much information with the government. The decision was made by both Democrats and Republicans working together.
- The government wanted DeFi platforms to share customer information for tax purposes.
- The Senate voted to stop this new rule.
- Some people think this is good for crypto, others worry it might make it easier for bad things to happen.
- Bitcoin briefly went above $88,000, and the overall crypto market is up a little.
| Cryptocurrency | Price Movement |
|---|---|
| Bitcoin | Recovered to near $88,000 |
| Ethereum | Up 4%, but still low |
| Total Crypto Market | Up 2%, $2.97 trillion |
| DeFi Total Value Locked | $102 billion (down from $212 billion peak) |
