Resolution to kill IRS DeFi broker rule heads to Trump’s desk 🏛️
The US Senate has voted to repeal a Biden-era rule that mandated decentralized finance (DeFi) protocols to report to the IRS, aiming to extend existing reporting requirements for digital assets and brokers.
The motion to kill the IRS DeFi broker rule passed 70-28 and is now heading to President Trump's desk. The White House reportedly supports the move to overturn the rule.
This decision highlights ongoing regulatory tensions over how to handle crypto finance. Further updates are expected as the situation evolves.
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