The fight for financial freedom just experienced a huge win with Coinbase joining the S&P 500. This is big news, as Coinbase is the first crypto company to join this prestigious index, paving the way for crypto to go mainstream and inspire trust from potential users.
In April, Congress overturned the IRS ruling that required DeFi platforms to follow broker tax rules, which included extensive KYC and other disclosures. Rather than create new regulation for a new technology, this broad sweeping rule created a nearly impossible task that would have stifled innovation in the US, so many pushed back and sued. Thankfully, many government officials realized it wasn’t practical to apply and would have continued to drive crypto projects overseas. The repeal signals a brighter future for DeFi within the US. While it’s good news, we still have many battles to protect the industry to help make sure it’s here to stay. We’re still pushing forward every week, and continuing the fight for a future where crypto can thrive.
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