U.S. Senate Expected to Vote on Erasing IRS's Crypto Broker Rule That Threatens DeFi: Source

Senate votes to overturn IRS DeFi broker rule requiring DeFi apps to report to the IRS

The Current State Of The IRS Broker Rule

A summary of the current state of the IRS Broker Rule, declaring non-custodial front-ends for smart contracts brokers for reporting requirements. Between the holidays and New Years, the IRS used the last passing days of the Biden administration to finalize its long feared Broker Rule: a regulation requiring all cryptocurrency exchanges – custodial and non-custodial, fiat to crypto and crypto to crypto – to effectively subject their users to Know…

US Senate to Vote on Repealing IRS Rule Threatening Crypto

The US Senate is set to vote on repealing an IRS rule that threatens both crypto and DeFi in the country, as it could be scrapped by weeks end

U.S. Senate Expected to Vote on Erasing IRS's Crypto Broker Rule That Threatens DeFi: Source

Senate leaders are said to be queuing up votes to reverse two Biden-era regulations tied to digital assets: the IRS DeFi rule and a CFPB digital-payments rule.

POLITICO Pro: House, Senate GOP to begin undoing Biden regulations

The Senate is gearing up to begin considering Congressional Review Act resolutions in the coming weeks that would undo rules on bank mergers and other matters.

US Senate Votes to Overturn Tax Reporting Rule for DeFi Brokers

The rule, if not repealed, will require DeFi brokers to report digital asset transactions and user data starting in 2027. The US Senate has voted to repeal an Internal Revenue Service (IRS) rule that was due to expand tax reporting requirements for decentralised finance (DeFi) brokers. The rule in question was finalised by the IRS in December 2024, broadening the definition of “broker” to include DeFi service providers, and requiring them to rep…