The US House of Representatives will vote to repeal the IRS DeFi broker rule
According to reporter Eleanor Terrett, the U.S. House of Representatives is expected to vote on Tuesday on repealing the IRS DeFi broker rule after the repeal was passed by a 70-27 majority in the Senate last week.
The Senate vote received more Democratic support than expected, including key Democrats such as Senate Majority Leader Chuck Schumer and Senator Mark Warner.
The crypto industry has strongly opposed the rule, which requires developers of DeFi protocols and decentralized applications to report user transactions to the IRS, arguing that it is technically difficult to enforce and lacks a legal basis. If the House passes the resolution, it will complete the repeal process and mark an important regulatory victory for the crypto industry.