Summary
- The US Senate announced that it has passed a resolution to repeal the DeFi broker regulations.
- The resolution will be sent to the House of Representatives, after which it can receive President Donald Trump's signature.
- Senator Ted Cruz, who introduced this resolution, emphasized that DeFi is a microcosm of the cryptocurrency revolution.
The controversial DeFi broker regulations from the US Internal Revenue Service (IRS) that caused debate in the industry may be eliminated. The Senate has passed a resolution to repeal these DeFi broker regulations.
According to cryptocurrency news outlet CoinDesk on the 4th (local time), the US Senate voted on a resolution to repeal the IRS DeFi broker regulations under the authority of the Congressional Review Act. The resolution passed with 70 votes in favor and 27 against.
With this, the resolution to repeal the IRS DeFi broker regulations will be sent to the House of Representatives. If approved by the House, President Donald Trump can then sign it.
Meanwhile, Senator Ted Cruz, who introduced this resolution, said, "DeFi is a microcosm of the cryptocurrency revolution," adding, "It's not right to consider software developers as brokers and force them to disclose their information."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
