Category: crypto

Kraken submitted 56 million crypto tax forms for 2025, most reporting gains under $50, and is now calling on Congress to overhaul what it calls an unworkable reporting threshold. The exchange argues that the current $10 reporting threshold creates unnecessary burden for users and platforms, and is lobbying for a change.

Major US banks are resisting proposed stablecoin regulations due to concerns about competition and risks. The White House has instructed the banking industry to stop opposing the legislation, indicating strong executive support. The standoff complicates the regulatory process. Stablecoins are crucial to the digital asset sector, and a clear regulatory framework could benefit the market.

The PACE Act bill proposes allowing qualified non-bank payment firms direct access to Federal Reserve payment systems to improve efficiency and reduce costs for consumers and businesses. This legislation would complement the GENIUS Act’s stablecoin regime and reshape the U.S. market infrastructure for payments and cryptocurrencies.

Curve founder Michael Egorov is advocating for industry-wide DeFi security standards following the Kelp rsETH exploit. He believes many DeFi hacks are due to avoidable centralized weak points and wants Ethereum and Solana foundations to lead the establishment of common security standards. Egorov highlights the importance of designing out single points of failure in decentralized…

Virginia redistricting is at a critical point as voters decide on a Democratic-drawn congressional map that could shift the state’s House delegation to ten Democrats and one Republican. Early voting numbers are high, with Democrats outspending Republicans on advertising. Polls show voters are split, with the outcome having national implications on redistricting.

Warsh criticized the Federal Reserve’s handling of inflation in 2021 and 2022, calling it a “fatal policy error” that still impacts Americans. He proposed a new inflation framework, reformed communications, and shrinking the Fed’s balance sheet. Warsh’s policy stance could benefit risk assets like cryptocurrency by potentially lowering interest rates.

Warsh stated in his Senate confirmation hearing that President Trump never asked him to predetermine interest rate decisions, emphasizing his commitment to monetary policy independence. However, Senator Tillis plans to block Warsh’s nomination until the DOJ drops its investigation into Fed Chair Powell. Trump’s comments on rate cuts also contradicted Warsh’s independence statement.

Spark’s MonetSupply criticizes Aave’s decision to unfreeze the Core WETH market, allowing whales to farm weETH loops at the expense of regular users. With aEthWETH at 100% utilization, high-leverage opportunities trap normal depositors and borrowers. This move creates arbitrage opportunities without addressing liquidity issues, worsening conditions for regular users.

During Tuesday’s hearing, Republican Senator Katie Britt of Alabama suggested resolving the Powell renovation probe to allow a smooth transition of Fed leadership. She urged all parties to find a solution without the need for a criminal probe. Britt’s statement, as a Trump ally, could offer a way to move past the Tillis blockade and…

Kevin Warsh’s financial filing revealed his indirect stakes in over 20 blockchain and digital asset companies, totaling at least $192 million. He must divest these holdings within six months of taking office to comply with ethics rules. His investments in the crypto ecosystem may impact his future decisions as Federal Reserve Chair.