The legislators in the United States voted to cancel the controversial rule of the Internal Revenue Service that decentralized financial platforms would have forced to report user transactions.
The motion against the IRS Defi -broker rule saw bipping support, in which the American house of delegates voted 292-132 For the withdrawal of the rule on 11 March. While all 132 opposing voices came from Democrats, 76 of the party crossed the aisle to join the Republicans when supporting the withdrawal.
The Defi broker rule would have decentralized trade fairs and other Defi platforms to report transaction data, including user information and gross yields from Crypto -sales, to the IRS.
Critics of the measure have argued that it has stated an unreasonable compliance with Defi platforms and has resulted in privacy problems about collecting data about taxpayers.
According to the Republican representative Mike CareyThe rule was a “massive government over -range” that “the privacy of tens of millions of Americans would have invaded” while cheating on an emerging industry.
Huis Financial Services Committee Chairman French Hill has that too reflect These concerns, which called the rule ‘a clear example of government overrun’ that risked the development of digital assets abroad.
The vote of the house follows the decision of the Senate on March 4, where the laws also moved to hit the rule with a majority of 70-27. As previously reported by crypto.news, the house has called on a resolution to withdraw the rule on 26 February.
With both rooms of the congress voting to withdraw the rule, the resolution now goes back to the Senate for a definitive vote before he lands on President Donald Trump’s office.
The White House has already provided support for withdrawing the rule, so it is likely that the withdrawal will be signed in the law.
