Donald Trump Donald Trump is an American former president politician, businessman, and media personality, who served as the 45th president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election as the Republican Party nominee against Democratic Party nominee Hillary Clinton while losing the popular vote. As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.–Mexico border, and implemented a family separation policy. Trump has remained a prominent figure in the Republican Party and is considered a likely candidate for the 2024 presidential election
President
is expected to sign a resolution repealing it. The rule, introduced during the Biden administration, required DeFi platforms to report crypto transactions to the IRS, much like traditional financial institutions.
3/ Next up? The CRA heads to @realDonaldTrump for signature – a milestone that would officially roll back the IRS’ misguided “DeFi Broker” rulemaking, and formally protect DeFi innovators in the United States.
Senate Votes to Overturn Crypto Reporting Requirements
The Senate voted 70-28 in favor of repealing the rule, following a similar decision by the House earlier this month. The legislation had been widely criticized by the crypto community for being impractical and harmful to innovation. Supporters of the repeal argue that DeFi platforms operate differently from centralized financial entities and should not be subjected to the same reporting rules.
Critics Say the Rule Was Unworkable
Crypto advocacy groups, including the Blockchain Association, praised the Senate’s decision, calling it a victory for DeFi innovation.
Thank you, @SenTedCruz, @RepMikeCarey and all of the members who voted to strike down this rule.
Your leadership will ensure American innovation in crypto and DeFi thrives.
Kristin Smith, CEO of the Blockchain Association, expressed gratitude to Senator Ted Cruz, Representative Mike Carey, and other lawmakers for voting to overturn a rule that could have restricted crypto and DeFi innovation. She emphasized that their leadership helps secure the future of digital assets in the U.S. and is now looking forward to Donald Trump’s final approval to scrap it permanently.
However, some experts argued that the rule was unrealistic and would have placed excessive burdens on decentralized platforms, making compliance nearly impossible.
However, opponents of the repeal, such as Democratic Representative Lloyd Doggett, warned that removing the rule could open doors for tax evasion and illicit financial activities. He claimed that keeping the regulation in place would have helped prevent wealthy investors from exploiting tax loopholes.
What’s Next?
With Trump expected to approve the repeal, the rule will soon be off the books. The decision highlights the shifting political landscape around crypto regulation as the industry gains stronger support in Washington. For now, DeFi platforms can breathe a sigh of relief, knowing they won’t have to comply with the IRS reporting requirements that many saw as an existential threat to the sector.
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A recent Cambridge report confirms that the United States now leads global Bitcoin mining, prompting questions about how China will respond. Though the country has long held an anti-crypto stance, Chinese mining pools have historically controlled a substantial portion of the global Bitcoin hashrate.
The US’s current competitive edge and renewed hostility over trade policy might motivate China to recapitulate. BeInCrypto spoke with representatives from The Coin Bureau and Wanchain to understand what might encourage China to change its stance toward digital assets.
US Overtakes China as Top Bitcoin Mining Hub
The US has firmly established itself as the world’s largest Bitcoin mining hub. A recent Cambridge Centre for Alternative Finance (CCAF) report revealed that the US accounts for 75.4% of the reported hashrate.
Global distribution of Bitcoin mining activity. Source: CCAF.
This newest development confirms a notable reversal of power over Bitcoin mining dominance. China emerged as the world’s leading Bitcoin mining nation as early as 2017, leveraging its extensive mining infrastructure and low electricity costs to contribute upwards of 75% of the global hash rate at one point.
Yet, the country would later crack down on the industry.
China’s Crypto Crackdown
In 2019, the National Development and Reform Commission of China (NDRC) signaled its intention to prohibit cryptocurrency mining by releasing a draft law categorizing it as an “undesirable industry.”
Two years later, at least four Chinese provinces began shutting down mining operations. These crackdowns intensified amid concerns over excessive energy consumption.
However, China possesses a proven capacity to adjust to geopolitical shifts that could jeopardize its economic dominance, and the current environment may present such a challenge.
Has Bitcoin Mining in China Truly Stopped?
Even with China’s official stance toward crypto, mining activity has not stopped within the region. In July 2024, Bitcoin environmental impact analyst Daniel Batten reported that the hashrate within China currently accounts for approximately 15% of the global total.
7/8
Bottom lines: 1. 15%+ hashrate still comes from China
2. If you have 200-500 miners and want to do renewable-energy mining, you’re welcome
3. This is particularly in Inner Mongolia, the Texas of China, which has a lot of wasted renewable power they want to monetize pic.twitter.com/r6QUgmLmjT
“Despite the official ban, the infrastructure is already in place: from offshore mining to cross-border trading hubs. With more global momentum behind crypto adoption and the US taking the lead, China may find itself incentivized to lean in more strategically, even if unofficially,” Nic Puckrin, Co-founder of the Coin Bureau, told BeInCrypto.
China also has a geographical advantage over the United States, especially regarding technological advancements.
Crypto mining, especially for proof-of-work cryptocurrencies like Bitcoin, depends on Application-Specific Integrated Circuit (ASIC) equipment to handle the necessary complex calculations for validation and mining.
China’s position as a top exporter of crypto mining hardware, particularly to the US, gives it a potential advantage should it decide to revive its mining sector.
Puckrin believes that the combination of trade friction and the US’s invigorated push for crypto dominance might be sufficient to make China reconsider its position.
“It’s unlikely China will make a public U-turn on its crypto mining and trading ban anytime soon. However, with US-based miners accounting for higher and higher proportions of Bitcoin’s hashrate, China is bound to be paying attention and may well be quietly reassessing its stance,” Puckrin told BeInCrypto.
However, China has strategies beyond restarting its Bitcoin mining industry to undermine the United States’ dominance.
China’s Nuanced Approach Beyond US Influence
Even though China opposes the widespread use of cryptocurrencies domestically, it may still see value in digital assets to counterbalance the US dollar’s global currency dominance.
Several countries worldwide have either adopted or are considering central bank digital currencies (CBDCs) to strengthen their domestic currencies. China is at the forefront of these developments.
“Despite the ban on Bitcoin mining, China has actively participated in the digital asset space, through initiatives like CDBC research and the digital yuan, or e-CNY,” Wanchain CEO Temujin Louie told BeInCrypto.
In fact, China’s efforts to create a digital yuan are partly driven by its desire to de-dollarize its economy and lessen its dependence on the US dollar.
Louie also suggested that whatever move China makes, it won’t solely base its decision on what the US does or does not do.
That said, China’s decisions about digital currency will, in turn, affect how its position on crypto continues to develop.
“Weakening USD dominance, whether exacerbated or caused by President Trump’s approach to tariffs, may embolden China to be more aggressive in [its] efforts to internationalise the yuan, including the digital yuan, or e-CNY. Any change to China’s broader strategy will be reflected in [its] stance towards crypto,” he concluded.
China’s activity in other areas of international trade already proves how nuanced its policy changes tend to be.
Could China’s Conflicting Crypto Policies Signal a Change?
Aside from its appreciation of digital currencies like the e-CNY, China’s stance on crypto has already proven somewhat contradictory. These discrepancies may fuel the belief that the country might just be willing to revert—or at least soften—its total ban on mining.
A month ago, investment firm VanEck confirmed that China and Russia –two countries particularly burdened by US sanctions– are reportedly settling some of their energy trades using Bitcoin.
Russia and China are settling oil trades in BTC. I’ve heard first hand accounts of similar transactions with Venezuela. Full tankers are settled in BTC on the “grey” market. The U.S. Government crossed the Rubicon in 2022 by seizing Russian assets at the Federal Reserve and… pic.twitter.com/Y8OwJROw9W
“With the US dollar increasingly being used as a political lever –particularly in tariffed economies– other nations are actively exploring alternatives. Indeed, many countries around the world, including China and Russia, are already using Bitcoin as an alternative for trading in commodities and energy, for example. This trend is only going to accelerate as digital assets become a more prominent part of the global economy,” Puckrin told BeInCrypto.
According to Puckrin’s analysis of these indicators, China’s “shadow crypto economy” is projected to expand this year, which could result in a reassertion of its power. This resurgence would be primarily in response to de-dollarization efforts, rather than a reaction to US dominance in mining.
“We’ll likely see this activity ramping up in the near future, especially as more countries use crypto to bypass dollar-dominated systems,” he concluded.
It will remain crucial to interpret China’s intentions, especially regarding cryptocurrency, by observing its actions rather than relying solely on its official statements.
According to a recent technical study by CoinPedia, Dogecoin is in a bearish market trend right now. DOGE’s price has decreased by over 5% in the previous 24 hours alone following a loss of control over a vital support level. Given the generally unfavorable market attitude influencing the crypto industry, DOGE’s market view seems bleak, with a price of about $0.166.
Source: Tradingview
The trading volume of Dogecoin has also dropped sharply to its lowest point in 2025. This suggests that traders and investors are losing interest because it relies on speculative trading and lacks practical use. Should DOGE continue to fall below the $0.166 threshold, it may have a further decline of 18%, bringing it down to $0.136.
This drop implies that much of Dogecoin’s time in the public may be gone, so it becomes less appealing approaching April The sentiment of Dogecoin (DOGE) is declining as the crypto market moves into April 2025. Two more altcoins, Shiba Inu (SHIB) and Rexas Finance (RXS), are under praise as the finest crypto bets approaching April. For the following reasons, these two assets have been hailed as main prospects for us into April 2025.
Rexas Finance (RXS)
Rexas Finance (RXS) is positioned as a strong new participant in the cryptocurrency market, as many investors are still reeling from DOGE’s poor price action. Rexas Finance is transforming the idea of tokenizing real-world assets (RWAs), including real estate, commodities, and financial instruments, unlike Dogecoin, which is essentially motivated by speculation and meme culture.
Rexas has become somewhat popular and well-known by giving investors access to historically illiquid markets. With Rexas Finance’s tokenizing strategy, anyone can invest in highly valuable assets. With Rexas, for instance, an investor might have a fraction of a $10 million real estate property for just a few hundred dollars, therefore democratizing access to markets valued at trillions of dollars. Particularly in sectors like real estate, where tokenization may offer liquidity and flexibility, this creative approach to asset management has the ability to upend sectors.
Rexas Finance has reacted well in its presale since its September 2024 introduction. In Stage 12, the project’s token price reflects a 567% rise from $0.03 to $0.20. $47,582,031 has already been raised, and the presale is nearly 91% sold out. With around 50,000 active RXS holders, Rexas is surrounded by constant FOMO (Fear of Missing Out). Rexas Finance offers investors the chance to create passive income with its range of DeFi services, including staking, yield farming, and liquidity pooling.
While the Rexas Launchpad provides early-stage investment opportunities for high-potential entrepreneurs, the project’s Rexas Token Builder system lets users quickly build and manage blockchain assets. With an initial listing price of $0.25, Rexas will debut on elite exchanges in June 2025. After the listing, experts estimate a 20,000% price rise; hence, RXS is among the most promising cryptocurrencies to purchase before the presale concludes.
Shiba Inu (SHIB)
Conversely, Shiba Inu (SHIB) has also shown indications of a positive comeback. Following several months of falling price action, SHIB has broken free from its downward trend and is set for a 154% increase. From its intra-month low, SHIB has already demonstrated a robust rebound of 19%; analysts predict it may reach notable resistance levels in the not-too-distant future. The present price action points Shiba Inu toward a target resistance level of $0.0000328.
Analyzers predict more price rises toward $0.00003514 as SHIB keeps gathering strength, indicating the beginning of a new bull run. With many long-term holders showing increased activity, the 784.24 trillion SHIB tokens represent great investor confidence. Another element influencing the Shiba Inu ecosystem’s capacity for a breakout is its expansion.
Network activity on the coin has surged as support levels point to SHIB perhaps about to make major gains. While DOGE has a pessimistic view and is dropping volume, SHIB is gaining momentum, setting itself up for a significant price increase in 2025.
Conclusion: A Shift Away from Dogecoin
Rexas Finance and Shiba Inu are becoming more appealing substitutes as DOGE maintains a bearish attitude and its price stays around important support levels. While Shiba Inu shows indications of a bullish reversal that could result in significant price rises, Rexas Finance is revolutionizing crypto investment by tokenizing actual assets. Both of these altcoins show great growth potential as we enter April 2025; hence, they are top candidates for investors looking to diversify from Dogecoin and seize fresh prospects in the changing bitcoin market.
For more information about Rexas Finance (RXS) visit the links below:
The post Why Have These 2 Dogecoin (DOGE) Competitors Been Touted as the Best Cryptos to Own as We Enter April 2025? appeared first on Coinpedia Fintech News
According to a recent technical study by CoinPedia, Dogecoin is in a bearish market trend right now. DOGE’s price has decreased by over 5% in the previous 24 hours alone following a loss of control over a vital support level. Given the generally unfavorable market attitude influencing the crypto industry, DOGE’s market view seems bleak, …
Bitcoin’s price has left many investors confused after it dropped below $84,000. Despite strong bullish factors over the past week, its recent price movement is far from the high expectations set by analysts following the announcement of the Strategic Bitcoin Reserve.
Bitcoin Drops Over 6%
Bitcoin is currently trading at $80,909, down over 6% in the past day. Bitcoin has dropped 3.37% over the past week, with trading volumes down 53%. Despite the declining figures, Bitcoin whales are actively buying, accumulating more than 22,000 BTC in just three days.
Despite a week full of positive news, including the signing of an executive order for a Strategic Bitcoin Reserve, a Crypto Summit at the White House, and encouraging statements from the OCC, Bitcoin’s price is unexpectedly falling and could drop below $80K.
The Out-of-sync Price Action!
On March 7, President Trump signed an executive order to use seized Bitcoin rather than purchasing it from the market. This move caused Bitcoin’s price to drop over 6%, from $90,400 to $84,979. “The knee-jerk reaction lower likely stems from the realization that no actual budget has been allocated for BTC purchases in the near term,” QCP Capital shared in a recent note.
However, it also noted that while this wasn’t the bullish catalyst as many expected, it’s still positive for crypto. The risk of random Silkroad BTC sales disrupting the market is gone, and the U.S. government has reaffirmed its commitment to a long-term crypto strategy, it noted.
An analyst expressed surprise, saying that in his 8 years with Bitcoin, he never saw the price action so out of sync with the news. This week was one of the most bullish in Bitcoin’s history, yet the market is facing decline.
What is Causing The Drop?
Several factors are behind Bitcoin’s recent price drop. Macroeconomic issues, like new tariffs from the US, have sparked sell-offs in Bitcoin and other cryptocurrencies. Besides, the release of the non-farm payrolls (NFP) report on Friday suggests that the Federal Reserve might tighten monetary policy, which could hurt Bitcoin’s price.
Experts noted that while the executive order for a Strategic Bitcoin Reserve and the Crypto Summit were positive, the lack of concrete policies might have cooled investor enthusiasm. Besides, Bitcoin’s decline is also dragging altcoins down, with ETH, XRP, and BNB losing over 6%, 6% and 4% respectively in the last 24 hours.
The post Why Is Bitcoin Crashing Today? appeared first on Coinpedia Fintech News
Bitcoin’s price has left many investors confused after it dropped below $84,000. Despite strong bullish factors over the past week, its recent price movement is far from the high expectations set by analysts following the announcement of the Strategic Bitcoin Reserve. Bitcoin Drops Over 6% Bitcoin is currently trading at $80,909, down over 6% in …
