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A decision to eliminate the defi broker rule of a controversial period is going to President Donald Trump’s desk for the ax after the Senate approval.
Vote, which passed It is an important step with the majority of 70-28 to reduce the supervision of internal income (IRS) on decentralized platforms.
The defi broker rule required non -central financial platforms to report crypto sales and disclose transaction details, including user information.
The fans argued that they would increase transparency, but critics warned that they could suppress innovation and apply burden compliance costs to web3 platforms.
Senate approval was expected to kill the defi broker rule
. Dibe The broker rule required users to contain users in each of the transactions, as well as offering gross revenues from crypto sales of non -decentralized platforms.
Critics of the DefI broker rule claimed that he would reach the decentralized platforms with very laborious rules and reporting requirements and then limit the innovation in the web3 field.
A version of the decision was accepted at the beginning of this month, and the senate approval was expected. However, he made his own version due to constitutional rules on where home budget measures should be caused.
Now, the decision will go to Trump’s desk, where he is expected to end the defi broker rule. The president’s artificial intelligence and crypto Czar David Sacks already said Trump supports killing the rule.
The White House is happy to announce the support he gave to Cra introduced by. @Sentcruz And @Repmikecarey To cancel the broker defi rule, a 11 -hour attack on the crypto community by Biden administration. pic.twitter.com/t7hxasb4ac
– David Sacks (@Davidsacks47) March 4, 2025
Crypto community applause solution while warning deputies about exploitation
Blockchain Association CEO Kristin Smith, such as the leading sounds in the crypto community, the Senate vote applauded in a statement.
The following description has been attributed to the Blockchain Association CEO @Kmsmithdc Following today’s second Senate vote to take back the defi broker rule: pic.twitter.com/s632l8sfab
– Blockchain Association (@blockchainassn) 27 March 2025
Similarly, Gambardello from Crypto Analyst and Trader said More than 288K followers added that the decision was “a big victory for the crypto ve and that“ Cleaning the path of innovation in Defı ”.
On the other hand, deputies warn that the decision can make tax trafficking and money laundering much easier.
Among the critics is the democratic representative Lloyd Doggett. HE in question At the beginning of this month that killed IRS Dibe The broker rule will create a gap to be used by wealthy tax tricks, drug smugglers and terrorist financiers ”.
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