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2021 uptober 🥶
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### **Emergency Update: White House Backs CRA to Repeal DeFi Broker Rule! 🚨** The cryptocurrency market is poised for a significant move as the White House officially supports the Congressional Review Act (CRA) resolution to **repeal the IRS’s “DeFi Broker Rule.”** #### **Current Market Overview:** - **Bitcoin (BTC):** Near **$83K–$85K** - **Solana (SOL):** Near **$135–$142** - **Ethereum (ETH):** Near **$2,000–$2,100** With this development, markets could soon **break to the upside, reaching new highs.** --- ### **White House Challenges IRS Rule on DeFi** In a **major pro-crypto policy shift**, the **Biden administration** has opposed the controversial IRS rule that classifies DeFi developers as brokers, requiring them to collect and report user transaction data. The rule, finalized in **December 2024**, expanded the definition of a “broker” under U.S. tax law to include: ✅ **DeFi developers** ✅ **Liquidity providers** ✅ **Smart contract operators** Critics argued this **overreaching regulation** would force DeFi projects to comply with **onerous reporting obligations**, stifling **innovation and decentralization.** ### **What This Means for Crypto Markets** ✅ **Bullish Sentiment:** The removal of regulatory uncertainty could restore confidence in **DeFi and broader crypto markets.** ✅ **Institutional Interest:** If compliance risks are reduced, more institutions may enter the DeFi space. ✅ **Price Surge Potential:** With bullish momentum building, the market could soon **break out to new highs.** --- ### **Next Steps: What to Watch** 🔹 **Congressional Vote on CRA Resolution** – If passed, the IRS rule gets repealed. 🔹 **BTC, SOL, and ETH Breakouts** – Crypto traders are eyeing key resistance levels. 🔹 **Institutional Reactions** – Will hedge funds and big players re-enter DeFi? Stay tuned for more updates as this **critical legislative battle unfolds!**
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BREAKING: Instead of 1, El Salvador bought 5 #Bitcoin today! BULLISH 🚀
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