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DeFi
DeFi, short for decentralized finance, represents a shift in the financial sector by leveraging blockchain technology, primarily Ethereum, to eliminate traditional financial intermediaries. It enables various financial applications, from simple transactions to complex contracts, through smart contracts that execute automatically under specific conditions. Key DeFi applications include decentralized exchanges (DEXs), stablecoins, lending platforms, and prediction markets. DeFi offers financial services like loans and interest-earning opportunities without traditional identity verification, relying instead on collateral, usually in cryptocurrency. This innovative sector promises increased accessibility and efficiency but comes with risks, such as market volatility and unregulated projects.
Blockchain Startup Kinto Plans 'First KYC'd' Ethereum Layer-2 Network After Raising $5M
Ethereum layer 2 Kinto network features native know-your-customer (KYC) checks and investor accreditation mechanism to help onboard regulated financial institutions.
Australia Updates Its Capital Gains Tax Guidance to Include Wrapped Tokens and DeFi
Last year, the Australian Taxation Office (ATO) warned cryptocurrency investors that capital gains and losses must be reported every time a digital asset is sold.
The U.S. Is Weighing Crypto Tax Rules: What Could Happen Next?
The U.S. Internal Revenue Service (IRS) has a public hearing slated on Monday about proposed regulations for digital asset transactions. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De discusses what to expect, along with some of the concerns about the framework, which includes user privacy.
How a New Tax Proposal From the IRS Could Impact DeFi
The U.S. Internal Revenue Service (IRS) has a public hearing slated on Monday about proposed regulations for digital asset transactions. CoinDesk Managing Editor of Global Policy and Regulation Nikhilesh De discusses the crypto industry's reaction to the proposal and what it could mean for decentralized finance (DeFi) projects.
The IRS Should Offer a Free Tax Reporting Tool to DeFi Users
Blockchain is not the problem, it is the solution to the problem the U.S. tax agency wants to solve through its highly controversial "broker rule."
IRS 'Raided' by Crypto Investors as Industry Puts Up Fight Against U.S. Tax Proposal
The proposal to establish a U.S. tax regime for digital assets has drawn a stunning 120,000 comments and will be the focus of an IRS hearing today.
Raft Suffers $3.3M Exploit That Drove Down Stablecoin 50%, but Hacker Likely Lost Money on Attack
Raft's R stablecoin lost its dollar peg, dropping as much as 50% in the immediate aftermath of the exploit.
Can Everyday Traders Trust DeFi's Automated Market Makers?
Decentralized finance needs to embrace user-friendly and secure solutions,
The Trading Tools Institutions Need to Enter DeFi
There is an equilibrium challenge between privacy and transparency in crypto.
Can Stablecoins Get Past Their Instability?
Moody's Head of DeFi Rajeev Bamra considers the role stablecoins play cryptocurrency markets, and the risks posed by "depegging" events.
