Forbes Reporter: The final vote to abolish the IRS rules for crypto brokers on DeFi projects may take place tomorrow

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Bitget2025/03/04 01:45

Forbes reporter Eleanor Terrett posted on the X platform that Republican Senator Ted Cruz plans to submit the "Congressional Review Act" to the Senate in order to abolish the Internal Revenue Service (IRS) "broker rule".

The bill is expected to be voted on whether or not to continue at 11 a.m. Eastern Standard Time tomorrow.

According to informed sources, Cruz's team hopes to complete the final vote on this bill tomorrow afternoon or evening, but the Presidential State of Union Address may postpone voting until later this week.

If passed by a simple majority in both houses, it will repeal IRS broker rules under US Treasury Department. This rule expands definition of “brokers” and includes decentralized finance (DeFi) developers. Supporters of CRA believe that current form of this rule is not suitable for unique nature of DeFi.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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