The U.S. House of Representatives will vote to repeal the IRS DeFi broker rule

2025-03-11 13:16:23

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ChainCatcher news, reported by journalist Eleanor Terrett, the U.S. House of Representatives is expected to vote on Tuesday to repeal the IRS (Internal Revenue Service) DeFi broker rule, after the repeal resolution passed in the Senate last week with an overwhelming vote of 70-27.

The Senate vote received more Democratic support than expected, including key Democratic figures such as Senate Majority Leader Chuck Schumer and Senator Mark Warner.

This rule requires developers of DeFi protocols and decentralized applications to report user transaction information to the IRS. The crypto industry strongly opposes this rule, 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, marking an important victory for the crypto industry in the regulatory arena.

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