- The Senate prepares for a final vote on the IRS DeFi broker rule, aiming to nullify regulations targeting decentralized finance platforms
- A procedural technicality forces the Senate to revisit its March 4 bipartisan “super majority” decision on the rule
- The resolution’s passage could signal a broader shift toward innovation-friendly crypto and blockchain regulation
Under the Trump government, the United States government has taken several steps towards removing regulatory weight from the cryptocurrency sector. This time, the U.S. Senate is getting ready to issue the final vote to nullify the IRS DeFi broker rule.
This rule was introduced at the very latter stage of the Biden administration in December 2024 and sought to impose traditional brokerage regulations on decentralized finance platforms. Under this rule, DeFi platforms would be classified as brokers operating on U.S. grounds, subject to reporting user transactions to the IRS.
On March 4th, the Senate had taken the initial steps toward reverting that rule. Under a bipartisan “super majority” vote, the resolution moved forward, leading to this critical final vote set for Thursday.
The scoop was shared by “Crypto America” host Eleanor Terrett. In an X post, Terret reported that the Senate must vote again on the joint resolution to nullify the IRS DeFi broker rule due to procedural technicality. This final vote, expected to pass, would send the resolution to former President Donald Trump’s desk, marking the first crypto-related bill signed into law.
While at first, this development does not sound terribly significant to cryptocurrency investors, the broader implications of the resolution could redefine how DeFi platforms are regulated in America.
Should the resolution pass — and everything is pointing to a positive resolution — it could encourage lawmakers to adopt a more “innovation-friendly” approach to crypto and blockchain technology.
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