According to The White House, the recently passed 'One Big Beautiful Bill' eliminates the IRS requirement for reporting Venmo, PayPal, and other gig economy transactions over $600, a rule previously criticized for burdening freelancers and small businesses (source: The White House Twitter, June 17, 2025). This repeal could drive more gig workers and freelancers toward traditional and crypto payment platforms, reducing compliance concerns and potentially increasing crypto adoption for peer-to-peer transactions. Traders should monitor for increased transaction volumes on crypto networks as gig workers seek alternative payment solutions.

According to Base's tweet, traders can now leverage ZKP2P to purchase cryptocurrencies like USDC and ETH on the Base platform using Venmo and Cashapp with transactions completing in just 60 seconds. This integration could potentially enhance liquidity and ease of access for crypto traders, thereby influencing market dynamics.

According to @dcposch, the integration of SNARK technology allows users to create a succinct proof of a valid, signed email from Venmo confirming a $100 transaction. This proof facilitates the claim of 100 USDC from an escrow contract, providing a secure and efficient method for transaction verifications.