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A resolution to dismantle a controversial Biden-era DeFi broker rule is heading to President Donald Trump’s desk for the axe following Senate approval. The vote, which passed with a 70-28 majority, marks a significant step toward reducing Internal Revenues Service (IRS) oversight on decentralized platforms. The DeFi broker rule required decentralized finance platforms to report crypto sales and disclose transaction details, including user information. Proponents argued it would enhance transparency, but critics warned it could stifle innovation and impose burdensome compliance costs on Web3 platforms. Senate Approval To Kill DeFi Broker Rule Was Expected The DeFi broker rule required decentralized platforms to file their gross proceeds from crypto sales as well as include information of the users involved in each of the transactions. Critics of the DeFi broker rule claimed that it would hit decentralized platforms with too onerous rules and reporting requirements, and sub...

The US Federal Bureau of Investigation (FBI) confirmed that North Korea’s Lazarus Group was behind the $1.5 billion Bybit hack and is urging the crypto industry to block transactions linked to the stolen funds. The agency is calling on exchanges, node operators, and private sector players to prevent further laundering, as the hackers have already moved over 135,000 ETH. It flagged 51 Ethereum addresses tied to the attack, the largest crypto heist ever. ”Actors are proceeding rapidly and have converted some of the stolen assets to Bitcoin and other virtual assets dispersed across thousands of addresses on multiple blockchains,” the FBI said. It added that the stolen funds will “be further laundered” before eventually being converted to fiat currency. About 363,900 ETH has remained unmoved. At ETH’s current price of $2,351.38 as of 7:07 a.m. EST, the assets are worth more than $855.6 million. Most of the assets that were stolen from the centraliz...

After spending years in the relatively narrow range with a center of gravity near $0.50, XRP went on a remarkable rally after Donald Trump was re-elected in November 2024. Indeed, the token is up 433.17% in the last 12 months, to its press time price of $2.83. XRP 12-month price chart. Source: Google The bulk of this surge took place in the last three months, and XRP is 424.07% in the green since November 6, 2024. Despite the surge, performance in early 2025 has been unstable, and most recent trading, in particular, brought a substantial downturn and a 6.54% drop within 24 hours. Under the circumstances, Finbold decided to consult one of the main – if vicarious – reasons for the latest downturn, the DeepSeek artificial intelligence (AI) platform, about how XRP will perform by the end of 2025 and if traders would be savvy to invest in it. Picks for you ...

Brazil’s Central Bank (BCB) has unveiled a proposal to effectively ban the transfer of stablecoins to self-custody wallets. This happens amid the Brazilian Real (BRL) hitting an all-time low against the US Dollar (USD), raising local economic concerns, as Finbold reported. The draft regulation aims to tighten control over cryptocurrency operations, in particular foreign-backed stablecoins, aligning them with traditional financial regulations. Brazil’s Central Bank targets stablecoins and self-custody On November 29, the BCB released a public consultation proposal to include virtual asset service providers (VASPs) in the foreign exchange (forex) market regulations. The move specifically targets stablecoins pegged to foreign currencies, like the USD-backed Tether (USDT), which is widely used in Brazil. Picks for you Why Bitcoin coul...