<ul><li>The U.S. Senate voted 70-28 to repeal a controversial IRS rule imposing strict tax reporting on crypto and DeFi participants, sending the bill to Trump for approval.</li><li>The rule sought to classify DeFi providers as brokers, requiring them to report user trading data and issue tax forms.</li><li>Industry leaders and advocacy groups opposed the measure, arguing it would stifle innovation and push blockchain development offshore.</li><li>The repeal signals a willingness to revisit regulatory architecture in the face of technological advances in the crypto space.</li></ul>

Crypto tax rule struck down by U.S. Senate bill heads to Trump’s desk

Discover more