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U.S. House to vote today on repealing IRS DeFi regulation Fox Business reporter Eleanor Terrett reported via X that the U.S. House of Representatives is set to vote on March 11 to overturn the Internal Revenue Service (IRS) DeFi broker rule. This follows the Senate's passage of…

Nasdaq-listed Bitcoin mining firm CleanSpark has announced its upcoming inclusion in the S&P SmallCap 600 index. CleanSpark, one of the largest Bitcoin ( BTC ) mining companies in the world, revealed this via press release on Mar. 10. According to the news release, inclusion in the S&P SmallCap 600 index will go into effect ahead of market opening on March 24, 2025. The S&P SmallCap 600 Index measures the small-cap constituents of the U.S. stock market. It tracks companies based on criteria such as book value and earnings, with these deemed value stocks also evaluated in terms of liquidity and financial viability. Inclusion into the index adds to the recent positive developments for CleanSpark, which completed significant deals in 2024. The miner also crossed 10,000 BTC in its treasury and hit key targets in its hashrate haul. Zach Bradford, the chief executive officer of CleanSpark, noted that joining the S&P SmallCap 600 index marks another significant milestone for the Bitcoin mining company’s employees, investors, and management team. The inclusion is also notable as it recognizes CleanSpark’s consistent market performance. He added: “Our inclusion enhances visibility within the investment community and gives us an opportunity to demonstrate the value of being a pure play, vertically integrated Bitcoin mining company and making exposure to our model more broadly available.” CleanSpark’s first-quarter results indicated that the company’s revenue rose 82% quarter-over-quarter to $162.3 million. Q1 also saw a 33% increase in BTC production, with 1,945 BTC mined over the three months compared to 1,465 BTC in the previous quarter. Meanwhile, the deployed hashrate increased by 41.7% to 39.1 exahashes per second. These spikes came as Bitcoin price recorded a 37% upside movementum. While BTC has dropped 16% in the past month, hovering near $80,000, crypto analysts remain bullish on the asset. Stock analysts also rate the pure-play Bitcoin miner CleanSpark’s stock as a top pick in the sector.

Zero Hash, a crypto and stablecoin infrastructure provider, is expanding its solution with the integration of PayPal USD. The crypto-as-a-service platform announced the integration of PayPal USD ( PYUSD ) on Mar.10, noting that users can now access the stablecoin on the Ethereum ( ETH ) and Solana ( SOL ) networks. PYUSD, a PayPal stablecoin issued by Paxos, is the latest product Zero Hash is adding to its suite. The platform already offers payments and other services integration with top stablecoins Tether ( USDT ) and USDC ( USDC ). Others are Dai, Circle’s euro-backed EURC, Ripple’s RLUSD, and Paxos’ Pax Dollar. Users will benefit from the U.S. dollar-pegged stablecoin’s features via Zero Hash’s application programming interface and software development kits. “Zero Hash offers the tech stack that powers use cases across Stripe’s payout products, on-ramps including Shift4, and tokenization payment rails used by Franklin Templeton,”said Edward Woodford, founder and chief executive officer at Zero Hash. Beyond cross-border payments and trading, Zero Hash’s customer base spans use cases such as remittances, tokenization, on- and off-ramps, wallet integration, and payrolls. This has led the platform to partner with Felix, Securitize and Kalshi. Backed by Point72 Ventures, Bain Capital and Nyca Partners, Zero Hash also has an extensive regulatory footprint. It has approval as a money service business by the Financial Crimes Enforcement Network and also holds a money transmitter license that allows it to operate across 51 jurisdictions in the U.S. Backed by Point72 Ventures, Bain Capital, and Nyca Partners, Zero Hash also has an extensive regulatory footprint. It is registered as a money service business with the Financial Crimes Enforcement Network and holds a money transmitter license that allows it to operate across 51 jurisdictions in the U.S. Meanwhile, PayPal USD launched in August 2023 and offers a 1:1 U.S. dollar backed stablecoin. Currently, PYUSD is the ninth-largest by market cap with over $720 million and is natively available on Ethereum and Solana. The stablecoin also recently expanded to Cardano via the Wanchain cross-chain bridge.

White House AI and crypto czar David Sacks has rejected the idea of a crypto transaction tax. He voiced his opposition during a current appearance on Jason Calacanis’ All In podcast. Sacks dismissed host Jason Calacanis’ suggestion of a 0.01% tax on all crypto transactions, an idea proposed to fund a US Strategic Bitcoin reserve. Sacks opposed the idea. He stated that all taxes always start very small and then grow over time. Therefore, he called the idea burdensome. He is not alone in these thoughts as crypto investors also expressed disapproval, citing concerns that even small transaction fees could hinder widespread acceptance. Although the most recent White House Crypto Summit lacked new tax regulations, the administration has suggested future tax changes before. Notably, Donald Trump has previously advocated for the abolition of federal income tax in favor of import tariffs. Considering that the US aims to be at the forefront of digital finance, a transaction tax could hamper innovation and drive businesses to more crypto-friendly jurisdictions. By immediately rejecting such ideas, Sacks is likely to help set a tone that encourages an open and competitive crypto market. In addition, clear, supportive policies from the government can boost investor confidence. Because of Sacks’ high-ranking position, his stance offers reassurances to the crypto community. These reassurances suggest that regulatory measures won’t unnecessarily restrict innovation or liquidity in the market. Sacks’ comment came a short time after it was reported that Senator Elizabeth Warren expressed ethical concerns about the administration’s cryptocurrency regulation strategy. This was all addressed to David Sacks via letter. Warren argued that increased government involvement in blockchain boosts cryptocurrency values. This value increase potentially creates conflicts of interest for policymakers. She demanded clarity from Sacks regarding any potential personal gains from their policy decisions. While the official response from Sacks has yet to happen, his rejection of crypto transaction tax is probably a calculated move. This move is likely intended to boost market efficiency and support a competitive US digital asset environment. Whether this will turn out to be fruitful is still to be seen. However, policy decisions like these are vital. They determine the future regulatory framework. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.