As the DeFi and crypto space continues to evolve rapidly, we provide an overview of this week's significant news and trends to keep you informed about the latest developments.
World Liberty Financial's Reserve Plans
World Liberty Financial, backed by Donald Trump, plans to establish a strategic reserve of purchased tokens, including Bitcoin and Ethereum. While details are undisclosed, the move aligns with Trump's past advocacy for a national crypto reserve.
Crypto Taxation in India
As of February 1, 2025, India imposes a 70% penalty on undeclared crypto profits with a 48-month lookback period. This change, part of the Union Budget 2025, mandates exchanges and financial institutions to report all crypto transactions under strict tax regulations.
Easing Crypto Restrictions for US Banks
The FDIC is revising its guidelines to allow US banks to engage with crypto businesses without prior approval. Following legal pressure and congressional shifts, 175 documents reveal a changing stance on crypto-related debanking practices.
This week brought vital developments in DeFi and crypto. From strategic reserves to India's taxation changes and US banking policy revisions, each story plays a crucial role in shaping the market.
