Donald Trump Set to End IRS DeFi Tax Rule After Senate Vote 🇺🇸
The U.S. Senate has voted to repeal a controversial tax rule that targeted decentralized finance (DeFi) platforms, with the final vote tally at 70-28. The rule, initially introduced during the Biden administration, mandated that DeFi platforms report cryptocurrency transactions to the IRS, aligning them with the reporting obligations of traditional financial institutions.
This decision signifies a potential change in the regulatory landscape, as it awaits finalization by Donald Trump. The implications of this move could shape the future of DeFi platforms in the United States, possibly easing operational constraints driven by regulatory requirements.
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