In a significant win for the crypto industry, the US Senate has voted to overturn the IRS rule that required tax reporting on crypto software providers. Many see this vote as a positive sign for future legislation related to stablecoins and market structure. The vote count was notably high, with 70 senators in favor and 27 against, indicating strong support from both Democrats and Republicans. This move could also benefit American traders by protecting their privacy and security, and prevent foreign companies from gaining an advantage by not having to comply with the rule.



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