Recent cryptocurrency developments have caused waves of both concern and excitement. Senator Elizabeth Warren's proposed bill to intensify crypto taxes and reporting requirements has sent ripples through the market. Simultaneously, the Pullix (PLX) presale, which is now in Stage 2, is gaining momentum as a potential rival to Coinbase. Some analysts even predict this new crypto ICO will surge by 100x in 2024. Today, we will analyze why.
Senator Warren's Bill: A New Tax Landscape for Crypto
Sen. Elizabeth Warren recently introduced the Digital Asset Anti-Money Laundering Act of 2023. If approved, the legislation would broaden the scope of the Bank Secrecy Act, expanding its requirements, such as KYC rules, to include validators, wallet providers, and miners.
Furthermore, the bill aims to introduce stricter tax compliance regulations for cryptocurrency transactions. This would require more detailed reporting to the IRS. Although five Democratic lawmakers joined in sponsoring the proposed act, we must remember that none of Warren's bills have passed yet.
Plus, legislators are now looking to make crypto regulatory reforms, while Warren's bill attempts to control and monitor this industry. Either way, we must wait and see how this bill will impact the DeFi market.
Pullix (PLX): One of the Best Altcoins in Times of Uncertainty
While Senator Warren's bill has stirred concerns within the crypto community, Pullix (PLX) is experiencing a surge in its presale. It is now in Stage 2, rising by 5% in its price. With over 2.2M PLX native tokens sold and $94,400 in sales, it is clear that Pullix has caused a frenzy among global crypto investors.
At its core, Pullix will introduce a hybrid trading platform that combines the best CEX and DEX features into one place. Therefore, you will no longer need to worry about high commissions and fees since Pullix will charge 0% commissions on trades and implement raw spread trading. This exchange will be community-backed and, unlike Coinbase, will allow the trade of all asset classes (including forex, gold, crypto, etc.).
While this trading platform is the main focus of the Pullix team, it will also incorporate multiple components in its ecosystem:
● Copy Trading: A feature allowing you to replicate trades from other experienced traders and profit from their decisions. ● Swaps: A DeFi swap that will enable you to trade tokens at the lowest fees while it works on an automated market maker model (AMM). ● Trade-To-Earn: Unlike periodic rewards, you will receive credited tokens in an instant, regardless of how your trade turned out.
All these features make Pullix a step above Coinbase. The PLX native token powers all of them, currently costing only $0.042. Holding it is the key to tremendous amounts of passive income. For example, a daily percentage of Pullix's revenue will be redistributed among PLX stakers. Moreover, it will introduce a burn feature that will ensure price stability and help long-term PLX holders. If you wish to obtain this kind of passive income, reduced trading fees, and more, now is the right time to purchase it.
Since this DeFi project will tap into multiple financial markets like the OTC derivatives one, which BIS valued at $20.7T in 2022, its long-term growth potential is excellent. It strategically positions itself to capitalize on this booming market, causing experts to forecast growth of 580%during its presale and another 1,000% rise after this altcoin hits exchanges. Therefore, the PLX altcoin may be the best crypto investment.
A Future Outlook
The crypto tax bill Senator Warren introduced may cause potential tax regulation shifts that could impact the crypto industry's future. However, many analysts do not believe it will pass by looking at historical evidence. Amid this uncertainty, the crypto ICO event of Pullix may shine.
The interest in this DeFi project will continue growing as the Pullix team recently announced a new 1,000 PLX token giveaway to one individual. If you are interested in participating in this event, sign up below.
For more information regarding Pullix’s presale see links below:
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
