
Bitcoin.com News|3ć 01, 2025 03:31
The IRS' DeFi crackdown just got BLOCKED đ¨
The House Ways and Means Committee voted to repeal the controversial "DeFi Broker Rule," calling it a threat to innovation and a gift to foreign competitors.
This rule wouldâve forced DeFi providers to collect and report user dataâsomething critics say is impossible and unfair. Even a former IRS commissioner warned it would "overwhelm" the agency with 8 BILLION new filings a year.
Chairman Jason Smith slammed the IRS, accusing it of stretching its authority to push a crypto agenda. Now, the repeal heads to the House, then the Senate, and finally to President Trumpâs desk for approval.
If this rule had passed, it couldâve crushed DeFi in the U.S. But now? A new regulatory future is on the table.
Are we witnessing the U.S. finally embracing crypto instead of fighting it? đ
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