04-11-2025, 07:35 AM
Here’s what happened in crypto today
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDEvMDE5NDgzZjctMTdlYS03OTc0LWJlNzMtNjYxYzdjZDE1N2M3.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDEvMDE5NDgzZjctMTdlYS03OTc0LWJlNzMtNjYxYzdjZDE1N2M3.jpg" alt="Here’s what happened in crypto today"></p><p>Today in crypto, Donald Trump signed a repeal of the IRS DeFi broker rule, the US Securities and Exchange Commission dropped its suit against the Helium network, and the largest public Bitcoin mining firms mined nearly $800 million worth of Bitcoin in Q1 2025.<h2>Trump signs resolution killing IRS DeFi broker rule</h2><p>US President Donald Trump <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-signs-resolution-killing-irs-defi-broker-rule" rel="" target="_self" text="null" title="https://cointelegraph.com/news/trump-signs-resolution-killing-irs-defi-broker-rule">signed a joint congressional resolution on April 10 that overturned a Biden-era rule</a> requiring decentralized finance (DeFi) protocols to report transactions to the Internal Revenue Service (IRS)</p><p>The so-called IRS DeFi broker rule was set to take effect in 2027 and twould have expanded the tax authority’s existing reporting requirements to include DeFi platforms, requiring them to disclose gross proceeds from crypto sales, including information regarding taxpayers involved in the transactions.</p><p>Representative Mike Carey, who backed the resolution, said it was the the first time a president has signed a crypto bill into law.</p><figure><img alt="Mining, SEC, Bitcoin Mining, Donald Trump, Companies, Policy" src="https://s3.cointelegraph.com/uploads/2025-04/0196227f-bfd1-71e7-8207-e9421a6b9d76" title=""><figcaption style="text-align: center;"><p><em>Source: </em><a data-ct-non-breakable="null" href="https://x.com/RepMikeCarey/status/1910463202216886513" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/RepMikeCarey/status/1910463202216886513"><em>Mike Carey</em></a></p></figcaption></figure><p>Critics of the rule claimed it would lump decentralized platforms with too onerous rules, hampering crypto innovation, while supporters said killing the rule would create a loophole for wealthy tax cheats.</p><p>Trump was widely expected to sign the bill, as White House AI and crypto czar David Sacks said in March that the president supported killing the measure.</p><h2>SEC drops suit against Helium for alleged securities violations</h2><p>The US Securities and Exchange Commission (SEC) <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sec-dismisses-helium-lawsuit" rel="null" target="null" text="null" title="null">has dismissed a lawsuit</a> against Nova Labs, developer of decentralized wireless network Helium, for allegedly issuing unregistered securities, Helium stated in an April 10 blog post. </p><p>Filed in January 2025, the lawsuit was among the SEC’s final enforcement actions against a cryptocurrency developer under former Chair Gary Gensler, who stepped down from his post on Jan. 20 after US President Donald Trump took office. </p><p>The dismissal with prejudice means the blockchain developer cannot be charged with similar violations again for issuing in 2019 its native token Helium (HNT), the company <a data-ct-non-breakable="null" href="https://blog.helium.com/sec-dismisses-claims-a-major-win-for-helium-and-the-people-819af63c2663" rel="null" target="null" text="null" title="null">said</a>. </p><p>“[W]e can now definitively say that all compatible Helium Hotspots and the distribution of HNT, IOT, and MOBILE tokens through the Helium Network are not securities,” Helium said. </p><p>“[T]he outcome establishes that selling hardware and distributing tokens for network growth does not automatically make them securities in the eyes of the SEC [and] that the SEC cannot bring these charges against Helium again,” it added.</p><figure><img alt="Mining, SEC, Bitcoin Mining, Donald Trump, Companies, Policy" src="https://s3.cointelegraph.com/uploads/2025-04/01962192-69b0-7ba5-a08c-347452bd7701" title=""><figcaption style="text-align: center;"><p><em>Source: </em><a data-ct-non-breakable="null" href="https://x.com/helium/status/1910420692597952746" rel="null" target="null" text="null" title="https://x.com/helium/status/1910420692597952746"><em>Helium</em></a></p></figcaption></figure><h2>Top Bitcoin miners produced nearly $800 million of BTC in Q1 2025</h2><p>The largest publicly traded Bitcoin mining companies <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-miners-produce-800-million-btc-first-quarter" rel="" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-miners-produce-800-million-btc-first-quarter">produced nearly $800 million worth of Bitcoin</a> in the first quarter of 2025, reflecting continued growth across the sector as Bitcoin prices held near record highs.</p><p>According to publicly available data compiled by Cointelegraph, the top Bitcoin mining companies produced over 9,700 Bitcoin (<a data-ct-non-breakable="null" href="/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) in the first quarter. With Bitcoin trading at around $81,600 at the time of writing, the total production was valued at around $800 million. </p><p>Marathon Digital, the <a data-ct-non-breakable="null" href="https://companiesmarketcap.com/bitcoin-mining/largest-bitcoin-mining-companies-by-marketcap/#google_vignette" rel="null" target="null" text="null" title="https://companiesmarketcap.com/bitcoin-mining/largest-bitcoin-mining-companies-by-marketcap/#google_vignette">biggest</a> Bitcoin mining company by market capitalization, led the pack with 2,285 Bitcoin (worth roughly $186 million) mined in Q1. </p><figure><img alt="Mining, Bitcoin Price, Data, Companies" src="https://s3.cointelegraph.com/uploads/2025-04/01961fff-b62d-784f-a3be-e7d04026f461" title=""><figcaption style="text-align: center;"></figcaption></figure><p>CleanSpark followed with 1,950 BTC mined in Q1, valued near $160 million. CleanSpark’s March performance also saw a 13.4% increase month-on-month. </p><p>On April 3, Marathon <a data-ct-non-breakable="null" href="https://ir.mara.com/news-events/press-releases/detail/1392/mara-announces-bitcoin-production-and-mining-operation-updates-for-march-2025" rel="null" target="null" text="null" title="https://ir.mara.com/news-events/press-releases/detail/1392/mara-announces-bitcoin-production-and-mining-operation-updates-for-march-2025">announced</a> that it produced 829 BTC in March, up 17.4% from February and 10.5% higher than January.</p><p>Iren, formerly Iris Energy, produced the third-highest amount for the quarter. The mining firm reported a total of 1,513 BTC, worth almost $124 million.</p><template data-name="subscription_form" data-type="defi_newsletter" label="Subscription Form: DeFi Newsletter"></template></p>
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<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDEvMDE5NDgzZjctMTdlYS03OTc0LWJlNzMtNjYxYzdjZDE1N2M3.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDEvMDE5NDgzZjctMTdlYS03OTc0LWJlNzMtNjYxYzdjZDE1N2M3.jpg" alt="Here’s what happened in crypto today"></p><p>Today in crypto, Donald Trump signed a repeal of the IRS DeFi broker rule, the US Securities and Exchange Commission dropped its suit against the Helium network, and the largest public Bitcoin mining firms mined nearly $800 million worth of Bitcoin in Q1 2025.<h2>Trump signs resolution killing IRS DeFi broker rule</h2><p>US President Donald Trump <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-signs-resolution-killing-irs-defi-broker-rule" rel="" target="_self" text="null" title="https://cointelegraph.com/news/trump-signs-resolution-killing-irs-defi-broker-rule">signed a joint congressional resolution on April 10 that overturned a Biden-era rule</a> requiring decentralized finance (DeFi) protocols to report transactions to the Internal Revenue Service (IRS)</p><p>The so-called IRS DeFi broker rule was set to take effect in 2027 and twould have expanded the tax authority’s existing reporting requirements to include DeFi platforms, requiring them to disclose gross proceeds from crypto sales, including information regarding taxpayers involved in the transactions.</p><p>Representative Mike Carey, who backed the resolution, said it was the the first time a president has signed a crypto bill into law.</p><figure><img alt="Mining, SEC, Bitcoin Mining, Donald Trump, Companies, Policy" src="https://s3.cointelegraph.com/uploads/2025-04/0196227f-bfd1-71e7-8207-e9421a6b9d76" title=""><figcaption style="text-align: center;"><p><em>Source: </em><a data-ct-non-breakable="null" href="https://x.com/RepMikeCarey/status/1910463202216886513" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/RepMikeCarey/status/1910463202216886513"><em>Mike Carey</em></a></p></figcaption></figure><p>Critics of the rule claimed it would lump decentralized platforms with too onerous rules, hampering crypto innovation, while supporters said killing the rule would create a loophole for wealthy tax cheats.</p><p>Trump was widely expected to sign the bill, as White House AI and crypto czar David Sacks said in March that the president supported killing the measure.</p><h2>SEC drops suit against Helium for alleged securities violations</h2><p>The US Securities and Exchange Commission (SEC) <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sec-dismisses-helium-lawsuit" rel="null" target="null" text="null" title="null">has dismissed a lawsuit</a> against Nova Labs, developer of decentralized wireless network Helium, for allegedly issuing unregistered securities, Helium stated in an April 10 blog post. </p><p>Filed in January 2025, the lawsuit was among the SEC’s final enforcement actions against a cryptocurrency developer under former Chair Gary Gensler, who stepped down from his post on Jan. 20 after US President Donald Trump took office. </p><p>The dismissal with prejudice means the blockchain developer cannot be charged with similar violations again for issuing in 2019 its native token Helium (HNT), the company <a data-ct-non-breakable="null" href="https://blog.helium.com/sec-dismisses-claims-a-major-win-for-helium-and-the-people-819af63c2663" rel="null" target="null" text="null" title="null">said</a>. </p><p>“[W]e can now definitively say that all compatible Helium Hotspots and the distribution of HNT, IOT, and MOBILE tokens through the Helium Network are not securities,” Helium said. </p><p>“[T]he outcome establishes that selling hardware and distributing tokens for network growth does not automatically make them securities in the eyes of the SEC [and] that the SEC cannot bring these charges against Helium again,” it added.</p><figure><img alt="Mining, SEC, Bitcoin Mining, Donald Trump, Companies, Policy" src="https://s3.cointelegraph.com/uploads/2025-04/01962192-69b0-7ba5-a08c-347452bd7701" title=""><figcaption style="text-align: center;"><p><em>Source: </em><a data-ct-non-breakable="null" href="https://x.com/helium/status/1910420692597952746" rel="null" target="null" text="null" title="https://x.com/helium/status/1910420692597952746"><em>Helium</em></a></p></figcaption></figure><h2>Top Bitcoin miners produced nearly $800 million of BTC in Q1 2025</h2><p>The largest publicly traded Bitcoin mining companies <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-miners-produce-800-million-btc-first-quarter" rel="" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-miners-produce-800-million-btc-first-quarter">produced nearly $800 million worth of Bitcoin</a> in the first quarter of 2025, reflecting continued growth across the sector as Bitcoin prices held near record highs.</p><p>According to publicly available data compiled by Cointelegraph, the top Bitcoin mining companies produced over 9,700 Bitcoin (<a data-ct-non-breakable="null" href="/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) in the first quarter. With Bitcoin trading at around $81,600 at the time of writing, the total production was valued at around $800 million. </p><p>Marathon Digital, the <a data-ct-non-breakable="null" href="https://companiesmarketcap.com/bitcoin-mining/largest-bitcoin-mining-companies-by-marketcap/#google_vignette" rel="null" target="null" text="null" title="https://companiesmarketcap.com/bitcoin-mining/largest-bitcoin-mining-companies-by-marketcap/#google_vignette">biggest</a> Bitcoin mining company by market capitalization, led the pack with 2,285 Bitcoin (worth roughly $186 million) mined in Q1. </p><figure><img alt="Mining, Bitcoin Price, Data, Companies" src="https://s3.cointelegraph.com/uploads/2025-04/01961fff-b62d-784f-a3be-e7d04026f461" title=""><figcaption style="text-align: center;"></figcaption></figure><p>CleanSpark followed with 1,950 BTC mined in Q1, valued near $160 million. CleanSpark’s March performance also saw a 13.4% increase month-on-month. </p><p>On April 3, Marathon <a data-ct-non-breakable="null" href="https://ir.mara.com/news-events/press-releases/detail/1392/mara-announces-bitcoin-production-and-mining-operation-updates-for-march-2025" rel="null" target="null" text="null" title="https://ir.mara.com/news-events/press-releases/detail/1392/mara-announces-bitcoin-production-and-mining-operation-updates-for-march-2025">announced</a> that it produced 829 BTC in March, up 17.4% from February and 10.5% higher than January.</p><p>Iren, formerly Iris Energy, produced the third-highest amount for the quarter. The mining firm reported a total of 1,513 BTC, worth almost $124 million.</p><template data-name="subscription_form" data-type="defi_newsletter" label="Subscription Form: DeFi Newsletter"></template></p>
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