U.S. House votes ‘292-132’ to overturn IRS DeFi rule – Details here – BitRss

• The House and Senate voted to repeal the IRS DeFi Broker Rule.
• The repeal would reduce compliance burdens and boost innovation in decentralized finance.

After S.J.Res.3—a resolution to overturn an IRS rule requiring DeFi platforms to report digital asset transactions—passed the U.S. Senate, it moved to the House of Representatives for approval before reaching President Donald Trump.

The U.S. House of Representatives, with a 292-132 vote, joined the Senate in advancing the Congressional Review Act resolution to overturn the controversial DeFi Broker Rule introduced during the final days of ex-President Joe Biden’s administration.

This rule would have required decentralized exchanges and DeFi platforms to report user transactions, including gross proceeds from crypto sales, to the IRS.

Opponents argued that the rule imposed excessive compliance burdens and posed significant privacy risks. Republican Representative Mike Carey criticized it as a “massive government overreach&…