Big US Step: Elimination of IRS Rules Against DeFi Realized Soon!

Jakarta, Pintu News – The United States Senate recently voted in favor of repealing Internal Revenue Service (IRS) rules targeting decentralized finance DEFI->Current DEFI PriceRp 0Market Cap-Trading Volume-Circulating Supply- platforms. This decision is expected to be signed by President Donald Trump soon.

The move is considered a major victory for the cryptocurrency industry and reduces regulatory scrutiny of the DeFi sector. The decision also reflects a broader push for regulatory clarity in the digital finance industry.

Resolution Authorization Process

On March 26, the US Senate passed H.J. Res. 25 by a vote of 70-28, a resolution introduced by Senator Ted Cruz and Representative Mike Carey. This is the second time the resolution has made it through the Senate in the same month, with the previous vote on March 4 coming in at 70-27.

This resolution aims to repeal the rules implemented by the IRS that specifically target DeFi platform operators as brokers. The repeal of this rule is expected to reduce the regulatory burden faced by cryptocurrency industry players. With the removal of this rule, DeFi platforms will no longer be required to fulfill the same reporting requirements as traditional brokers. This is thought to open up more room for innovation and growth within the DeFi sector.

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Support from Industry and Education

On the same day, DeFi Education Fund along with a coalition of other organizations sent a letter to members of the US Senate and House committees on banking, justice, and financial services. The letter emphasized the importance of regulatory clarity to support growth and innovation in the decentralized finance sector. The coalition hopes that with the repeal of the IRS rules, there will be a positive impetus for the development of new financial technologies.

The involvement of various parties in supporting the repeal of this rule shows a growing awareness of the importance of adapting regulations that support technological developments. It also marks a step forward in the dialog between policymakers and stakeholders in the cryptocurrency industry.

Implications for the Cryptocurrency Industry

If President Donald Trump signs the resolution, it will be a significant milestone in the history of cryptocurrency regulation in the United States. The removal of these IRS rules is expected to fuel further growth in the DeFi sector, which has shown great potential in recent years. The cryptocurrency industry, including major currencies such as Bitcoin BTC->Current BTC PriceRp 0Market Cap-Trading Volume-Circulating Supply-, Ethereum ETH->Current ETH PriceRp 0Market Cap-Trading Volume-Circulating Supply-, and Ripple XRP->Current XRP PriceRp 0Market Cap-Trading Volume-Circulating Supply-, may see increased investment and new product development.

In addition, this decision could set a precedent for other countries to evaluate and possibly reduce excessive regulation in the digital financial sector. This shows the importance of adapting policies in line with technological developments to support innovation and economic growth.

The New Era of Digital Finance

With the repeal of this IRS rule, the United States may be entering a new era in digital finance regulation. This move not only supports the growth of the DeFi industry but also sets an important precedent in global digital finance policy. In the future, more policies that support innovation and growth of the digital economy are expected.

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Reference

• BeInCrypto. Senate Repeals IRS Rule on DeFi. Accessed on March 28, 2025
• Featured Image: OneSafe