SergioDiaz
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The Senate wants to repeal Biden's cryptocurrency tax rule
AI Summary
According to CoinDesk, a significant victory was achieved in the U.S. Senate on Tuesday when a resolution to repeal the Biden administration's cryptocurrency tax regulation received strong bipartisan support. The Senate voted 70-27 to approve the resolution under the Congressional Review Act, aimed at eliminating the new broker rule from the Internal Revenue Service (IRS), which was intended to cover decentralized finance (DeFi). This resolution is a critically important step toward repealing the rule, but it still requires approval from the House of Representatives before U.S. President Donald Trump can sign it into law.
#GPSonBinance
The Senate wants to repeal Biden's cryptocurrency tax rule
AI Summary
According to CoinDesk, a significant victory was achieved in the U.S. Senate on Tuesday when a resolution to repeal the Biden administration's cryptocurrency tax regulation received strong bipartisan support. The Senate voted 70-27 to approve the resolution under the Congressional Review Act, aimed at eliminating the new broker rule from the Internal Revenue Service (IRS), which was intended to cover decentralized finance (DeFi). This resolution is a critically important step toward repealing the rule, but it still requires approval from the House of Representatives before U.S. President Donald Trump can sign it into law.
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