US House follows Senate in passing resolution to kill IRS DeFi broker rule

A bipartisan majority in the US House of Representatives voted to repeal the so-called IRS DeFi broker rule.

The US House of Representatives has voted in favor of nullifying a rule that would have required decentralized finance (DeFi) protocols to report to the Internal Revenue Service.

On March 11, the House of Representatives voted 292 for and 132 against a motion to repeal the so-called IRS DeFi broker rule that aimed to expand existing IRS reporting requirements to crypto.

All 132 votes to keep the rule were Democrats. However, 76 of those in the party joined the Republican vote to repeal it. 

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