The U.S. Senate overwhelmingly voted against the DeFi broker bill, and it entered the House of Representatives voting phase

Odaily Planet Daily News The U.S. Senate passed a resolution with a vote of 70-27 to repeal the IRS's expansion of broker rules, which was originally planned to cover DeFi. The House of Representatives needs to vote on it, and then the president can sign it into law to repeal the regulation and prevent the IRS from implementing similar policies in the future. Earlier, U.S. crypto-friendly Senator and Chair of the U.S. Senate Banking Digital Assets Subcommittee Cynthia Lummis forwarded the tweet "The White House will support CRA to revoke DeFi broker rules" on the X platform, and said: "The IRS's regulations on DeFi fundamentally misunderstand how decentralized technology works. Wyoming has always been at the forefront of responsible digital asset regulation, and I have witnessed how regulatory clarity - not over-regulation - promotes innovation. These tough federal regulations may push American crypto entrepreneurs overseas, when we should be nurturing this industry at home. It is an honor to work with Senator Ted Cruz to revoke this attack on the crypto community." (CoinDesk)