MPs in the United States have voted to scrap the controversial rules of the Internal Revenue Service, which would have forced decentralized finance platforms to report user transactions.
Proposal against IRS DEFI Broker Rules saw bilateral support, with US House of Representative voting 292-132 In favor of cancellation of governance on 11 March. While all the 132 anti -votes came from Democrats, 76 from the party crossed the corridor to join the Republican in supporting the dismissal.
The DEFI broker rule will require decentralized exchanges and other DEFI platforms to report transaction details, including user information and gross income from crypto sales to IRS.
Critics of measurement have argued that it laid an improper compliance burden on DEFI platforms and increased confidential concerns when taxpayer data is collected.
Republican representative Mike carryThe rule was a “large -scale government overrech”, which stopped the privacy of millions of Americans, stopping an emerging industry “.
French Hill is also the chairman of the House Financial Services Committee Echo These concerns call the rule “a clear example of the government”, which took the risk of increasing digital asset development abroad.
The house vote follows the Senate decision on 4 March, where MPs also shifted the regime to strike with a 70-27 majority. As reported earlier by Crypto.news, the House carried forward a proposal to cancel the rule on 26 February.
Along with both the Congress chambers to cancel the rule, the resolution is now back to the Senate for the final vote before President Donald Trump landed at the desk.
The White House has already indicated support for cancellation of the rule, which is likely to signed in the law.
