Summary
- It was reported that President Trump is expected to soon sign a resolution to repeal the IRS's 'DeFi Broker Regulation.'
- It was stated that the Senate passed the resolution late last month with 70 votes in favor.
- This regulation is a provision that requires DeFi brokers to report revenue from digital asset sales, and there has been a demand from the industry for its repeal.
On the 10th (local time), Eleanor Terrett, host of Crypto in America, cited industry insiders stating that U.S. President Donald Trump is expected to soon sign a resolution to repeal the IRS's 'DeFi Broker Regulation.'
Senator Ted Cruz, who introduced the joint resolution in the Senate, is expected to attend the signing ceremony. The Senate passed the resolution late last month with 70 votes in favor and 28 against.
The DeFi Broker Regulation is a provision that requires DeFi brokers to report total revenue from digital asset sales to the IRS, 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.
