Crypto Daily Roundup: Key Events Shaping the Market Today
Survey Reveals European Banks Lag in Crypto Adoption
A recent Bitpanda survey has revealed that fewer than 20% of European financial institutions currently offer cryptocurrency services, despite growing investor interest. The study, which surveyed 10,000 retail and institutional investors across 13 European countries, found that over 40% of business investors already hold digital assets, with another 18% planning to enter the market soon.
However, a significant disconnect exists between financial institutions and market demand. While 80% of surveyed banks acknowledged the rising importance of crypto, only 19% offer related services. This gap suggests that traditional banks may be underestimating the sector’s rapid growth.
U.S. Senate Votes to Overturn IRS DeFi Reporting Rule
In a major policy shift, the U.S. Senate has passed a resolution to repeal the IRS’s controversial DeFi broker rule. The measure, which aimed to impose stricter reporting requirements on decentralized finance platforms, will now be sent to President Donald Trump, who has indicated his support for scrapping the regulation.
The Senate voted 70-28 in favor of the repeal, arguing that the rule would have placed excessive burdens on DeFi platforms while potentially stifling innovation in the industry. Critics of the resolution, however, warn that rolling back the rule could create loopholes for tax evasion.
Hyperliquid Delists JELLY Token Perpetuals Amid Market Manipulation Concerns
Crypto exchange Hyperliquid has removed perpetual futures contracts linked to the JELLY token following evidence of suspicious trading activity. The move comes after a trader allegedly executed a $6 million short position before manipulating the token’s on-chain price, triggering a self-liquidation event.
Hyperliquid’s non-profit arm, the Hyper Foundation, has announced plans to reimburse affected traders, excluding flagged accounts. Meanwhile, concerns about the platform’s decision-making process and level of decentralization have sparked debate in the crypto community.
Market Outlook: Bitcoin Holds Steady, Institutions Eye Expansion
Despite regulatory uncertainties, institutional interest in crypto remains strong. Bitcoin’s price has stabilized amid market fluctuations, and analysts predict further growth as institutional players expand their presence.
As crypto adoption accelerates globally, the gap between investor demand and financial institutions’ offerings continues to widen. Whether regulators and traditional banks will adapt to this evolving landscape remains to be seen.
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