ChainCatcher message, U.S. crypto-friendly Senator Cynthia Lummis stated while sharing the news "The White House will support CRA to overturn DeFi broker rules," that "The IRS's regulations on DeFi fundamentally misunderstand how decentralized technology operates.Wyoming has been at the forefront of responsible digital asset regulation, and I have witnessed firsthand how regulatory clarity—rather than overregulation—can foster innovation. These tough federal regulations could push U.S. crypto entrepreneurs overseas when we should be nurturing this industry domestically. I am honored to join Senator Ted Cruz in overturning this attack on the crypto community."

ChainCatcher news, according to Cryptonews, the U.S. House of Representatives' fundraising committee passed a resolution by a vote of 26-16 to push for the repeal of the "DeFi Broker Rules." This rule was originally set to take effect in 2027, requiring decentralized exchanges and other digital asset brokers to report transaction details to the Internal Revenue Service (IRS).This repeal action occurs against the backdrop of a Republican-controlled Congress, with hundreds of pro-cryptocurrency candidates winning congressional seats, leading industry leaders to predict that the U.S. government may become the most cryptocurrency-friendly government in history.If this resolution passes in the House, it will be submitted to the Senate for approval, ultimately to be decided by President Donald Trump on whether to sign it into law.

ChainCatcher news, according to Coindesk, the Blockchain Association, along with 75 participants from the cryptocurrency industry, including Coinbase, a16z, Kraken, and others, has sent a letter to the U.S. Congress calling for the repeal of the IRS's new regulations on DeFi brokers. This rule was urgently introduced before the Trump administration was about to leave office, requiring DeFi brokers to provide information reports similar to those of securities brokers.Senator Ted Cruz has introduced a resolution to repeal this rule under the Congressional Review Act. The industry letter points out that the rule misunderstands DeFi technology, exceeds congressional intent, and suggests using congressional power to rescind the rule before it takes effect to avoid negative impacts on the industry.