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The U.S. government demonstrated a stronger commitment to the cryptocurrency industry during a high-profile summit at the White House, where top officials and industry leaders gathered to discuss the future of blockchain technology in the financial system. On social media platform X, Chainlink co-founder Sergey Nazarov, who attended the event, described it as a historic moment for crypto, given the presence of key figures such as Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and President Donald Trump. “It was a great event that had some of the top leaders in our industry in attendance, all of whom got the chance to share their views on the crypto reserve, regulation, legislation, and the overall strategy for how our industry will be able to evolve in the United States financial system,” he shared on March 7, emphasizing the significance of the U.S. financial system’s global influence. He opined: Since the U.S. financial system is the world’s leading financial system and many other financial systems follow its lead, this was a truly historic day for our industry. The event also featured key lawmakers, including Majority Whip Tom Emmer and Digital Asset Subcommittee Chair Bryan Steil, signaling growing legislative support for integrating blockchain into the financial sector. Nazarov stressed the importance of this bipartisan cooperation, stating: “The executive branch and legislative branch working together to get our industry adopted by the US financial system is very important.” He added: “It has become clear to me that the large macroeconomic effects of our industry on the US financial system makes it not only a bipartisan issue but possibly even a nonpartisan issue that is obviously in both parties’ interests because it is clearly in the US’s overall interests.” According to Nazarov, this level of collaboration is accelerating efforts to introduce new laws and regulations that support the industry’s expansion.” The Chainlink co-founder also praised members of the Trump administration, particularly White House AI and Crypto Czar David Sacks and Bo Hines, Executive Director of the President’s Council of Advisers on Digital Assets, for their dedication to advancing cryptocurrency policy. He said: They are helping bring together the most senior members of the U.S. government to reorient the US financial system towards our industry’s technologies as the future. He highlighted Trump’s direct support for the industry, citing the president’s statement: “I thought it was very important that we stay in the front of this one. This is a big one.” The summit reinforced the growing role of cryptocurrency in shaping the future of the U.S. economy, with both policymakers and industry leaders working to establish a regulatory framework that fosters innovation and adoption. 免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。

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In a historic development, the White House has indicated its support for the repeal of the IRS DeFi broker rule. The December 2024 regulation, which defined “broker” to include decentralized finance (DeFi) platforms and subjected them to strict reportage requirements, has been faulted for stifling innovation and intruding into people’s private lives. The administration’s approval is in sync with congressional efforts led by Senator Ted Cruz and Representative Mike Carey to repeal the regulation. The decision is a policy pivot towards DeFi regulation, balancing the imperative of compliance and taxation and supporting development in this sector. Congressional Pushback and Industry Response The crypto industry, accompanied by friendly legislators, organized a collective front to challenge the IRS’s regulation of DeFi brokers. The Blockchain Association, which has over 75 actors, implored Congress to cancel the regulation in February of 2025, terming it a regulation overreach. Senator Ted Cruz submitted a resolution under the Congressional Review Act (CRA) to cancel the regulation, which he asserted was outside congressional intent and could stifle innovation in the DeFi market. The move in Congress was a sign of the growing political strength of the cryptocurrency market and its potential to mobilize in defense of perceived regulation overreach. White House Approval of the Repeal Efforts White House Crypto and AI Advisor David Sacks, in a big move, has declared that it strongly supports congressional repeal of the IRS DeFi broker rule. The administration is in agreement with concerns that the regulation can suppress American innovation and is also concerned with privacy in that taxpayers’ private data has to be disclosed. The administration’s decision to lend its support is one of balancing compliance and facilitating development in the DeFi sector. The decision is in harmony with champions in the sector, and this is one step towards more mature regulation in the rapidly evolving digital asset sector. A Pivotal Moment for DeFi Regulation The approval of the CRA resolution for the repeal of the IRS DeFi broker rule by the White House is a milestone in regulating decentralized finance (DeFi). It underscores the necessity of implementing a policy that is mindful of the unique character of DeFi platforms but not excessively burdensome in compliance. The move of the Senate to bring this resolution to a vote has significant implications for future regulation of America’s DeFi. Success in repealing could pave the way for targeted regulation that encourages innovation while making compliance easier and ensuring consumers are protected. Failure to repeal could foreshadow stricter regulation, which could slow the development of the DeFi ecosystem. Navigating the Future of Crypto Regulation The debate on the repeal of the IRS DeFi broker rule is reflective of the integration of regulation and innovation in the crypto sphere. Tax compliance is necessary, but regulations should not go to the point of stifling emerging technologies. The expression of White House approval of the repeal of this regulation is in line with recognizing there is a call for a well-crafted policy to facilitate growth while ensuring public interest. The future of digital assets is unfolding, and policymakers now find themselves having to design structures that can regulate innovation while not undermining regulatory purposes. The end product of this legislative process will serve as a lead for future regulation of cryptos in America and how America can capitalize on decentralizing technologies. It is necessary to achieve this harmony in order to ensure America continues to remain in its position of preeminence in financial innovation and to ensure investors’ and consumers’ interests. The ongoing interaction of policymakers and industry experts will be part of designing a regulatory environment conducive to compliance and innovation. The post White House Shocks Crypto World: David Sacks Backs Repeal of the IRS DeFi Broker Rule appeared first on Coinfomania.

Texas is moving ahead with its Strategic Bitcoin Reserve Bill, SB21 , now put for vote. The bill, which signals the state’s growing adoption of Bitcoin, could make Texas the first state in the US in digital asset adoption. At the same time, on a national level, President Donald Trump is set to reveal a major cryptocurrency policy shift at the first-ever White House crypto summit this Friday. These developments indicate a heightened governmental interest in integrating Bitcoin into the broader financial system. Lawmakers in Texas could vote on the Strategic Bitcoin Reserve Bill as early as today. The legislation, which has been placed on the “notice of intent” list, aims to establish a state-backed Bitcoin reserve. If approved, it would cement Texas’ role in the digital asset space, setting a precedent for other states. Related: Trump’s Crypto Reserve vs. US Data: Will This Week’s News Drive Bitcoin? On the national front, the Trump administration is expected to make an announcement on cryptocurrency policy. Commerce Secretary Howard Lutnick has hinted at a new structure that would give Bitcoin special significance. While details remain few, it is clear that Trump sees Bitcoin as a strategic asset with long-term implications. The upcoming crypto summit at the White House is set to be a key moment. It may provide clarity on how the administration plans to regulate digital assets and whether a federal Bitcoin reserve is in consideration. Related: Donald Trump’s Shift from Bitcoin Reserve to a ‘Broader’ Crypto Plan Sparks Debate This move could reshape the U.S. financial world by offering Bitcoin a level of government backing, potentially increasing its legitimacy and adoption. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.