Forbes reporter: Final vote to repeal IRS crypto broker rules for DeFi projects could take place tomorrow
2025-03-04 01:43:24
Republican Senator Ted Cruz plans to send the Congressional Review Bill to the Senate to repeal the IRS "broker rule". The bill is expected to be voted on at 11am Eastern Standard Time tomorrow.
According to people familiar with the matter, the Cruz team hopes to complete a final vote on the bill tomorrow afternoon or evening, but the President's State of the Union address could delay the vote until later in the week. If the bill passes by a simple majority in both houses, it would repeal the US Treasury's IRS broker rule, which expands the definition of "broker" to include decentralized finance (DeFi) developers. CRA proponents argue that the rule in its current form does not fit the unique nature of DeFi.
According to people familiar with the matter, the Cruz team hopes to complete a final vote on the bill tomorrow afternoon or evening, but the President's State of the Union address could delay the vote until later in the week. If the bill passes by a simple majority in both houses, it would repeal the US Treasury's IRS broker rule, which expands the definition of "broker" to include decentralized finance (DeFi) developers. CRA proponents argue that the rule in its current form does not fit the unique nature of DeFi.
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