🚀  Crypto shockwave! The US House of Representatives has just passed a resolution to repeal the controversial IRS tax regulation on cryptocurrency platforms, with overwhelming support from both parties — a crucial step to protect innovation and privacy in the blockchain industry.

🟢 The resolution was supported by 291 out of 435 lawmakers, achieving a "super bipartisan majority".

🟢 The IRS tax regulation previously required DeFi platforms and crypto service providers to submit 1099 tax forms, despite many decentralized platforms lacking the ability to collect transaction data.

🟢 Experts are concerned that this regulation could drive the blockchain industry overseas and undermine America's competitiveness.

➡️ The resolution was proposed by Congressman Mike Carey (R-Ohio) and Senator Ted Cruz (R-Texas), with public support from the Trump administration. President Trump has stated he will sign it into law as soon as it is presented.

➡️ Although it was previously passed by the Senate (70-28), the resolution must return to the Senate once more due to budget provisions. However, with overwhelming support, it is likely to overcome the final hurdle.