Summary
- It was reported that if the US Internal Revenue Service (IRS)'s 'DeFi Broker Regulation' repeal resolution passes the Senate, only President Donald Trump's signing process remains.
- The DeFi Broker Regulation requires brokers to report total revenue from digital asset sales, and the virtual asset industry has been continuously demanding its repeal.
- The repeal resolution passed the Senate on the 4th but is expected to be re-voted due to technical issues.
Eleanor Terrett, a former Fox Business reporter, reported on the 25th (local time) via X (formerly Twitter) that the vote on the US Internal Revenue Service (IRS)'s 'DeFi Broker Regulation' repeal resolution is expected to take place as early as the 27th (local time).
The resolution passed the Senate on the 4th but will be re-voted due to technical issues. If the resolution passes the Senate, only President Donald Trump's signing process remains.
The DeFi Broker Regulation requires brokers in the DeFi sector to report total revenue from digital asset sales, and the virtual asset (cryptocurrency) industry has been continuously demanding its repeal.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
