The U.S. Senate has voted in favor of repealing an IRS rule that expanded the definition of a "broker" to include decentralized finance protocols. The measure received bipartisan support, with Republicans largely against the rule and many Democrats in favor. Critics argued that the rule would burden DeFi systems with compliance requirements and force users to reveal their identities. The resolution now awaits approval in the House and then heads to President Trump's desk for final approval. The Trump administration formally supported the repeal, calling the rule a threat to innovation and privacy.



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