news 
Title: Congress Moves to Overturn IRS Broker Rule Targeting DeFi Platforms
A recent development has emerged in the ongoing saga between decentralized finance (DeFi) platforms and the Internal Revenue Service (IRS). Congressional lawmakers have reportedly introduced a bill aimed at overturning the IRS’s controversial broker rule, which would require DeFi platforms to report transactions and maintain records on behalf of users. This move comes as a welcome relief for the crypto industry, with some speculating that even former President Donald Trump could sign off on the legislation by March 28.
In recent months, the crypto community has been abuzz over the IRS’s proposed rule change, which was seen as overly broad and potentially crippling to DeFi innovation. The organization claimed it would be used to better track cryptocurrency transactions and ensure compliance with existing regulations, but many critics saw it as an attempt to stifle growth in the decentralized finance space.
The Congressional bill looks set to address these concerns by revising the IRS’s proposal and establishing clearer guidelines for reporting requirements. While no official statement has been made on Trump’s potential involvement, insiders suggest that he could put his signature on the bill before the end of March.
Source: https://cryptoslate.com/congress-moves-to-overturn-irs-broker-rule-targeting-defi-platforms-potential-trump-signing-on-march-28/
