Trump Kills Defi Broker Rule in Major Crypto Win: Finance Rédefinie, April 4-11
In a significant victory for decentralized financing protocols (DEFI), US President Donald Trump canceled the DEFIM Broker rule of the Rété Service internal, which would have widened the existing declaration requirements to include DEFI platforms.
The increase in the regulatory clarity of American cryptography will attract more giants of technology in space, which obliges existing cryptographic projects to focus on more collaborative tokenomics to survive, according to the founder of Cardano, Charles Hoskinson.
Trump Signs Resolution Killing the Rule of the broker Irs Defi
Trump signed a joint resolution of the congress reversing a rule of the Biden Administration era which would have required DEFI protocols to report transactions to the Internal Revenue Service.
Planned at the idea of taking effect in 2027, the IRS DEFI Broker’s rule would have widened the existing tax authority requirements to include the DEFI platforms, forcing them to disclose the gross product of crypto sales, including information concerning the taxpayers involved in transactions.
Trump officially killed the measure by signing the resolution on April 10, marking the first time that a crypto bill was signed in US law, said representative Mike Carey, who supported the bill, in a statement.
“The Defi Broker rule unnecessarily embarked on American innovation, aroused the privacy of everyday Americans, and had to overwhelm the IRS with an overflow of new deposits that it does not have the infrastructure to manage during the tax season,” he said.
Crypto needs collaborative tokenomics against technology giants – Hoskinson
The next generation of cryptocurrency projects must adopt a more collaborative approach to compete with large centralized technology companies entering the web3 space, according to the founder of Cardano, Charles Hoskinson.
Speaking at the Blockchain Week 2025 in Paris, Hoskinson said that one of the main criticisms of the crypto and defi space is its “circular economy”, which often means that the gathering of a specific cryptocurrency is reinforced by funds coming out of another token, limiting the growth of the whole industry.
Hoskinsin said that to have a chance against centralized technology giants joining the web3 industry, cryptocurrency projects need more tokenomics and collaborative market structure.
“The problem at the moment, with the way we have done things in the cryptocurrency space, is tokenomics and the market structure is intrinsically opponent. This is the sum 0,” said Hoskinson. “Instead of choosing a fight, what you need to do is that you have to find the tokenomic and the market structure that allows you to be in a cooperative balance.”
He argued that the current environment often sees the growth of a cryptographic project to be at the expense of another rather than contributing to the overall health of the sector. He added that this is not sustainable in the face of billions of dollars like Apple, Google and Microsoft, which could soon join the web3 racing in the midst of the clearer American regulations.
Bitcoin 24/7 liquidity: double -edged sword during global market disorders
Bitcoin and other cryptocurrencies are often congratulated for having offered 24-hour commercial access, but this constant availability may have contributed to a strong sale during the weekend after the last announcement of the American sales rate.
Unlike traditional actions and financial instruments, Bitcoin (BTC) and other cryptocurrencies allow payments and 24/7 negotiation opportunities thanks to the accessibility of Blockchain technology.
After a record, 5 billions of dollars were suffered from the S&P 500 over two days – the worst drop never recorded – Bitcoin remained above the level of support of $ 82,000. But on Sunday, the asset had dropped at less than $ 75,000.
Sunday’s correction may have taken place because Bitcoin is the only large active asset negotiable during the weekend, according to Lucas Outumuro, head of research on the intelligence platform Crypto Intotheblock.
“There was a little optimism last week that Bitcoin could be non-correlated and defined better than traditional stocks, but the (correction) has accelerated during the weekend,” said Outumuro during the live show of the Cointelegraph track on X, adding: adding: adding: adding: adding: adding: adding: adding: adding: adding: adding: adding: adding: adding: adding
“There are very few people who can sell a Sunday because most of the markets are closed.
Outumuro noted that the Bitcoin weekend trade can also have upward effects, because prices are often gathering in quieter conditions.
Bybit recovers the market share at 7% after $ 1.4 billion in hacking
Bybit’s market share rebounded at the pre-hack levels after a feat of $ 1.4 billion in February, while the exchange of crypto implemented stricter security and an improvement in liquidity options for retail merchants.
The cryptography industry was shaken by the greatest hacking in its history on February 21, when the appeal lost more than $ 1.4 billion in liquid ether (STETH), Mantle ETH (Meth) and other digital assets.
Despite the magnitude of the feat, the Parbit regularly found a market share, according to a report of April 9 of the Crypto analysis company, Block Scholes.
“Since this initial decline, the Parbit has regularly resumed the market share as it works to repair the feeling and that volumes return to the stock market,” said the report.
Block Scholes said that the proportional share of Bybit has increased from a post-hack hollow of 4% to around 7%, reflecting a strong and stable recovery in the activity of the cash and negotiation volumes.
The hack occurred in the middle of a “broader trend in macro disorganization which started before the event”, which indicated that the initial decrease of Bybit of the volume of negotiation was not only due to the feat.
Nearly 400,000 FTX users may lose $ 2.5 billion in reimbursement
Nearly 400,000 creditors in the FTX bankruptcy cryptocurrency exchange may miss $ 2.5 billion in reimbursements after omitting to start the compulsory verification process of your customer (KYC).
About 392,000 FTX creditors did not succeed or at least take the first steps of the compulsory verification of your customers, according to a legal file on April 2 before the American bankruptcy court of the Delaware district.
FTX users originally had until March 3 to start the verification process to recover their complaints.
“If a holder of a complaint indicated in Annex 1 attached did not start the KYC submission process with regard to this complaint or before March 3, 2025 at 4:00 pm (and) (the” start date of KYC “) 2 of this complaint must be excited and deleted in full”, the states filed.
The KYC deadline has since been extended until June 1, giving users another chance to check their identity and claim eligibility. Those who do not respect the new deadline can have their complaints constantly disqualified.
According to court documents, complaints of less than $ 50,000 could represent approximately $ 655 million in prohibited reimbursements, while complaints of more than $ 50,000 could amount to $ 1.9 billion, which brings total risk funds to more than $ 2.5 billion.
Presentation of the DEFI market
According to Cointelegraph Markets Pro and TradingView data, most of the 100 largest cryptocurrencies by market capitalization ended the week in the red.
The EOS token (EOS) fell by more than 23%, marking the biggest drop of the week in the Top 100, followed by the nearby protocol (near), down more than 19% on the weekly graphic.
Thank you for reading our summary of the most impactful DEFI developments this week. Join us next Friday for more stories, information and education concerning this dynamically advanced space.
