The U.S. Senate Crushes a Controversial IRS Rule Targeting DeFi, Opening the Door for New Projects

The U.S. Senate has officially crushed a controversial IRS rule targeting DeFi, marking another win for the crypto industry.

The U.S. Senate has officially killed off a controversial IRS rule that would have taxed DeFi traders harder, marking another win for the crypto industry.

The rule, part of the Biden administration's efforts to broaden tax reporting, aimed to impose the same standards on DeFi brokers as traditional financial institutions. However, it faced backlash as many DeFi platforms don't collect such data, rendering the task impossible.

Now, with the regulation dismantled and stifling regulations on the industry being relaxed, DeFi in the U.S. is entering a brighter, more accessible future.

At the same time, one Japanese investment firm decided to buy the dip, acquiring 497 Bitcoin at the best possible rate.

Metaplanet’s move sparked a 19% surge in its stock on Monday, highlighting how even in market downturns, there’s serious money to be made. With sentiment turning bullish, investors are now eyeing the best crypto presales to seize this new opportunity.

Here are three standout projects that could be the next big winners.

DeFi Gets The Green Light In The U.S.

The Senate’s vote to overturn the IRS's reporting rule is a significant win for the DeFi industry.

It impacts a regulation that was part of the Biden administration's broader efforts to boost tax compliance. The administration had targeted 'brokers' in its aim to generate $70 billion in extra revenue over 10 years.

The goal was to place the same reporting obligations on digital asset brokers as those imposed on traditional financial institutions for reporting on their customers' investment income. However, a key difference lies in the fact that many DeFi platforms don't collect such data.

This regulation would have required brokers to report transactions to both the IRS and the taxpayer, in addition to providing the agency with a complete list of brokers registered by the Treasury.

But with the regulation now dismantled, more users may enter the DeFi space, drawn in by the promise of true financial freedom without the fear of excessive government scrutiny. The door is now open for a new wave of DeFi-driven investment opportunities.

1. BTC Bull Token (BTCBULL) - Rewarding Holders For Bitcoin's New All-Time Highs

For investors capitalizing on Bitcoin’s (BTC) popularity, BTC Bull Token (BTCBULL) is a promising opportunity. This token offers leveraged exposure to Bitcoin’s price movements.

This means that when Bitcoin’s price goes up, BTCBULL amplifies those gains accordingly. It’s also designed to reward holders with Bitcoin.

This unique token is powered by the Ethereum (ETH) blockchain and offers investors a chance to capitalize on Bitcoin’s market movements while earning additional cryptocurrency airdrops.

As Bitcoin reaches specific price milestones, BTCBULL holders who bought their tokens from Best Wallet will be eligible for a portion of Bitcoin. For instance, when Bitcoin hits $150K and $200K, eligible BTCBULL holders will receive BTC directly into their wallets.

Furthermore, to enhance token scarcity and value, BTCBULL implements token burn mechanisms at predetermined Bitcoin price milestones.

Each time Bitcoin’s price increases by $25K, a portion of the BTCBULL token supply is permanently removed from circulation, potentially driving up the token’s value.

Of course, leverage works both ways, so it’s a high-reward, high-risk option best suited for traders who understand market swings.

Currently priced at $0.002395 per token, BTC Bull Token has already raised over $3M in its presale.

The Senate’s ruling and Metaplanet’s aggressive Bitcoin acquisition are bullish signals for the market, and leveraged tokens like BTCBULL could be positioned to benefit the most from the renewed interest in crypto.

For traders looking to supercharge their BTC exposure, this could be a golden opportunity. Join the presale today.

2. Meme Index (MEMEX) - A Diversified Bet On Meme Mania

Meme coins have a history of defying expectations, capturing the crypto community’s attention with their lighthearted spirit and viral potential. However, investing in individual meme coins can be a risky endeavor due to their inherent volatility.

Meme Index (MEMEX) offers an accessible way to invest in the meme coin market without picking individual winners. Instead of concentrating on a single viral sensation, MEMEX tracks a basket of top-performing meme tokens.

This provides investors with broad exposure to the diverse and often-turbulent world of meme-driven speculation.

The platform categorizes meme coins into four distinct indexes:

• Broad Market Index: A diversified index tracking the performance of a broad basket of meme coins.

• Small-Cap Index: Focused on smaller, emerging meme coins with high growth potential.

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