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Resolution to kill IRS DeFi broker rule heads to Trump’s desk

Published

2 years ago

March 27, 2025

The US Senate has passed a resolution to kill a Biden administration-era rule to require decentralized finance (DeFi) protocols to report to the Internal Revenue Service, which will now head to US President Donald Trump’s desk.

On March 26, the Senate voted 70-28 to pass a motion repealing the so-called IRS DeFi broker rule that aimed to expand existing IRS reporting requirements to crypto.

The Senate had voted to pass the resolution earlier in March, which also passed the House, but it was sent back to the Senate for a final vote before it could be sent to Trump.

The White House’s AI and crypto czar, David Sacks, has said Trump supports killing the rule.

This is a developing story, and further information will be added as it becomes available.

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Wells Fargo and five others object to OKX-ICE tokenized stock listings: Report

Published

13 hours ago

October 23, 2026

As of Friday, 22 companies had filed objections as part of the joint venture’s proposed tokenized stock platform under the SEC’s innovation exemption.

Coin Market

IRS plans lower tax disclosure penalties, including for crypto: Forbes

Published

14 hours ago

October 23, 2026

The US tax agency is targeting faster resolutions and more flexible payment options for taxpayers voluntarily disclosing past tax violations under a planned program overhaul.

Coin Market

Initia halts blockchain after exploit reportedly drains over $2.6M

Published

16 hours ago

October 23, 2026

The blockchain suspended its layer-1 network and rollups after security researchers identified unauthorized token minting and millions in assets transferred to Ethereum.