TechFlow news, on February 27, according to Cryptonews, the U.S. House Ways and Means Committee passed a resolution by a 26-16 vote to advance the repeal of the "DeFi broker rule." The rule was originally set to take effect in 2027, requiring decentralized exchanges and other digital asset brokers to report transaction details to the Internal Revenue Service (IRS).
This repeal effort comes amid Republican control of both chambers of Congress, and with hundreds of pro-crypto candidates winning congressional seats, industry leaders predict the U.S. government could become the most crypto-friendly administration in history.
If the resolution passes in the House of Representatives, it will be sent to the Senate for approval, and ultimately President Donald Trump will decide whether to sign it into law.
