Day: March 5, 2025

IRS Expands Crypto Oversight With Broker Rule

In the final days of the Biden administration, the IRS quietly pushed through its Broker Rule, a sweeping regulation requiring all cryptocurrency exchanges—whether custodial or non-custodial—to comply with Know-Your-Customer (KYC) requirements. This new mandate expands the definition of a broker beyond traditional financial intermediaries, forcing DeFi front-end developers to report user transactions via 1099 tax […]

Ripple Backs $50M Crypto Advocacy Group

Ripple Labs is stepping up its role in crypto advocacy by funding a newly established nonprofit dedicated to educating the public on the real-world impact of digital assets. On March 5, Ripple’s chief legal officer Stuart Alderoty announced on X that he would serve as president of the National Cryptocurrency Association (NCA) while retaining his […]

Trump Unveils U.S. Crypto Reserve

U.S. President Donald Trump has officially revealed plans to create a U.S. strategic cryptocurrency reserve, featuring Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). The announcement, made on March 2nd via Truth Social, sent crypto markets soaring, with over $300 billion added in market value within hours. Trump’s revelation marks the first time […]