In today's crypto news, New York Assemblyman Clyde Vanel has introduced a bill allowing state agencies to accept cryptocurrencies for payments, including fines and taxes. This legislation follows the state's previous crypto bill aimed at preventing fraud and investor protection. Meanwhile, President Donald Trump has signed a resolution repealing the IRS’s DeFi broker rule, which would have mandated decentralized finance platforms to report transaction details starting in 2027. Critics argued this would hinder crypto innovation, while supporters warned against potential loopholes for tax evasion. Additionally, the SEC has dismissed its lawsuit against Nova Labs, the developer of the Helium network, regarding the issuance of unregistered securities for its native token, HNT. This dismissal, filed in January 2025, prevents further charges on similar grounds, marking a significant shift in regulatory actions under the new administration.

Source 🔗