US Senate clears resolution to kill IRS’s controversial defi broker rule

A rule for removing a rule of internal revenue services in the United States targeting decentralized financing platforms cleaned the Senate, preparing the way for the expected signaling of the president.

On March 26, the Senate vote 70-28 in favor of repealing the controversial rule of the DEFI broker, which sought to extend the tax declaration requirements for companies in the sector.

Earlier this month, the House of Representatives passed the resolution With bipartite support, with the republican representative Mike Carey, vocal critic of the bill, calling it “overcoming the massive government” which would compromise the privacy of American nationals and hinder industry growth.

Now the resolution goes to the office of President Donald Trump for final approval. David Sacks, the Crypto and the AI ​​Advisor to the White House, previously confirmed the Administration supportAnd Trump should sign it.

The rules, initially proposed by the IRS and the Treasury Department of the United States in August and finalized in December 2024, would oblige the DEFI platforms to report user transactions, in particular, the gross product of the sale of crypto – at IRS, similar to traditional brokers.

This would include the collection and deposit of personal data of the users involved in these transactions, which, according to criticism, goes against the nature of decentralization and exerts unnecessary pressure on platforms which often do not have central operators.

Supporters of the repeal argued that the rule was impracticable in practice and could hunt the innovation of the United States

The Blockchain Association, a defense group for digital assets, as well as the Texas Blockchain Council, heard IRS last year.

Marisa Coppel, legal manager of the association, criticized the regulators in a joint declaration last year, claiming that the IRS and the Treasury had “exceeded their statutory authority in the expansion of the definition of the” broker “.

“Not only is it an offense to the rights to the confidentiality of individuals using decentralized technology, but it would push all this booming technology offshore,” he added.