The House of Representatives convened on Tuesday to vote on repealing the IRS DeFi broker rule, which aimed to impose data collection requirements on DeFi platforms.
If the Senate approves the resolution, it would prevent the IRS from reintroducing such a framework in the future.
Simultaneously, the Financial Services Committee held a hearing to discuss the proposed Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act and other legislative proposals.
The U.S. House moved to address a controversial IRS proposal regarding DeFi platform regulation. In a bipartisan vote of 292 to 132, legislators decided to repeal the IRS DeFi broker rule, initially introduced by the Biden administration in December.
