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Senate Votes to Repeal IRS DeFi Broker Rule, Awaits Trump’s Signature

  • The U.S. Senate voted 70-28 to repeal an IRS rule that would have required DeFi platforms to report taxpayer information
  • The resolution now heads to President Trump, who is expected to sign it
  • Critics argued the rule was 'fundamentally unworkable' since DeFi platforms operate through automated code without human oversight
  • Industry groups like the Blockchain Association and DeFi Education Fund opposed the rule through lobbying and lawsuits

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