Odaily Planet Daily reported that, according to journalist Eleanor Terrett, the U.S. House of Representatives is expected to vote on Tuesday to repeal the IRS (Internal Revenue Service) DeFi broker rules, following the overwhelming passage of the repeal resolution in the Senate last week with a vote of 70-27.
The Senate vote received support from Democrats that exceeded expectations, including key Democratic figures such as Senate Majority Leader Chuck Schumer and Senator Mark Warner.
This rule requires developers of DeFi protocols and decentralized applications to report user transaction information to the IRS. The cryptocurrency industry has strongly opposed this rule, arguing that it is technically difficult to enforce and lacks legal foundation. If the House passes the resolution, it will complete the repeal process, marking a significant victory for the cryptocurrency industry in the regulatory arena.

Odaily Planet Daily News - According to reporter Eleanor Terrett, the U.S. House of Representatives is expected to vote on Tuesday to repeal the IRS (Internal Revenue Service) DeFi broker rule, following the overwhelming passage of the repeal resolution in the Senate last week by a vote of 70-27.

The Senate vote received more Democratic support than expected, including key Democratic figures such as Senate Majority Leader Chuck Schumer and Senator Mark Warner.

This rule requires developers of DeFi protocols and decentralized applications to report user transaction information to the IRS. The crypto industry strongly opposes this rule, arguing that it is technically difficult to enforce and lacks legal basis. If the House passes the resolution, it will complete the repeal process, marking a significant victory for the crypto industry in the regulatory arena.

The U.S. House of Representatives will vote to repeal the IRS DeFi broker rule.