In a detailed update, Ron Hammond, Director of Government at the Blockchain Association, highlighted upcoming events in the crypto market. He emphasized that the current Congress is the most pro-crypto and expects significant legislative activity in the next two years. The focus this year will shift to tax clarity, with the impending expiration of Trump-era tax cuts sparking interest in crafting a major tax bill. The most pressing concern is the IRS's recently finalized broker rule, which expands reporting obligations to include DeFi platforms and has faced backlash. The crypto industry faces internal debates on priorities like token clarity and the establishment of a Bitcoin strategic reserve. Traditional financial institutions are becoming more involved in crypto policy discussions, which is expected to have a significant impact in the next two years. Hammond expressed optimism about fostering collaboration between the crypto and traditional financial sectors. The weeks ahead will see critical policy battles, including the broker rule Congressional Review Act and tax-related legislation, which will shape the future of the crypto market and its relationship with regulators and lawmakers.



Other News from Today