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Varisha
@varisha
The Senate has voted 70-27 to repeal a regulation that required decentralized finance (DeFi) platforms to report customer transactions to the IRS. The rule, initially aimed at improving tax compliance by treating DeFi platforms similarly to centralized exchanges, was set to take effect in 2027. Critics argued that the high compliance costs were unwarranted, leading to this bipartisan decision to repeal the regulation.
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