Victory for defi. 11 March of the House of Representatives voted to abolish the rule that would force decentralized financial protocols (defi) Be responsible to US tax. This decision made by 292 votes against 132 is followed by the Senate of March 4 to annul the same rule.
- The House of Representatives voted to abolish the rule that requires protocols to define for American tax, after a similar vote in the Senate.
- According to some deputies and officials of Trump’s administration, the controversial IRS rule would attack privacy and hamper innovations.
The controversial rule eventually abandoned
The aim of the IRS rule was to expand the obligations of the Defi Declaration, such as decentralized stock exchanges, and ask them to publish unprocessed cryptocurrency intake and information about the taxpayers involved. According to the Republican representative Mike Carey, this rule “With the non -present of the privacy of tens of millions of Americans, it makes it difficult to develop a new important industry in the United States and overcome the IRS.”
Chairman of the Committee on the Finance Services of the Chamber, the French Hill, also applauded the abolition of the rule and described it as “A clear overcoming of a government that threatens to move US digital assets abroad.”
The decision supported by Trump’s administration
This resolution will have to pass on another vote Senate Before he was sent to the President Donald Trumpwho has already indicated to support it. David Sacks, Car Ai and White House cryptocurrencies, said the administration would support efforts Congress Abolish the defi broker rule (Deficient).
Managers of the Office for Management and Budget wrote that this rule “It would suffocate US innovations and give rise to confidentiality concerning personal data sharing from taxpayers, while imposing an unprecedented burden for US Society of Defi.”
However, some Democratsas a representative Lloyd Doggett, against this abolition, claims to create a “An exhaust that would use rich tax fraudsters, drug traders and terrorist financiers”.
Cancellation of the IRS Defic Broker rule is a victory for cryptocurrency industry in the United States, but also raises questions about the way country country It will regulate this growing sector.