In today's crypto news, SEC nominee Paul Atkins faced a Senate confirmation hearing where his ties to the crypto industry and regulatory intentions were scrutinized. Massachusetts Senator Elizabeth Warren expressed concerns over potential conflicts of interest stemming from Atkins’ consulting firm, which had advised the collapsed crypto exchange FTX. Atkins was pressed on his ties and whether he would be influenced by past clients in his regulatory decisions. Additionally, a survey revealed that fewer than 1 in 5 European banks offer crypto services despite rising demand, with more than 40% of business investors holding cryptocurrencies. Lastly, the US Senate voted to repeal a proposed IRS DeFi broker rule, which aimed to impose strict reporting requirements on decentralized finance platforms, now headed for approval by President Trump. This move has sparked debate over potential impacts on crypto innovation and tax evasion loopholes.

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