US House to Vote on Repealing DeFi Broker Regulations on the 12th

Uk Jin

Summary

The US House announced it will hold a vote on repealing DeFi broker regulations on the upcoming 12th.
The regulations treat DeFi brokers the same as traditional securities brokers, imposing data reporting obligations.
The industry has criticized these regulations as misguided and ignoring the technology.

*Congressman Mike Carey /Photo=Mike Carey X Capture*

As the resolution to repeal the IRS's DeFi (Decentralized Finance) broker regulations passed the Senate last week, the House will also hold a related vote.

On the 11th (local time), Fox Business News reporter Eleanor Terrett announced via X (Twitter), "The House is scheduled to vote on Tuesday (12th) on a resolution to repeal the IRS DeFi broker regulations."

The IRS DeFi broker regulations treat brokers in the DeFi space the same as traditional securities brokers, designating DeFi brokers as subjects of data reporting obligations. The industry has previously criticized this as misguided regulation that ignores the technology.

Meanwhile, if the resolution is approved by the House, President Donald Trump will be able to sign off on it afterward.