The U.S. Senate voted 70-27 on March 4, 2025, to repeal a Biden-era IRS rule targeting decentralised finance (DeFi) platforms. Using the Congressional Review Act, lawmakers moved to erase the 2024 rule requiring DeFi protocols to report user transactions. Senator Ted Cruz (R-TX), the resolution’s sponsor, labelled the policy “incoherent federal overreach” before the vote. Meanwhile, bipartisan support underscored growing…
