House votes to repeal controversial IRS crypto tax rule, sending measure to Trump's desk
The U.S. House voted to repeal a controversial tax rule that requires "custodial brokers" to collect and report user data to the IRS.
The U.S. House of Representatives voted to repeal a controversial tax rule that requires "custodial brokers" to collect and report user data to the Internal Revenue Service, teeing it up for President Trump's signature. Notably, the vote passed with a bipartisan supermajority with support from 291 House Members.
The House voted on Tuesday to approve a joint resolution by Rep. Mike Carey, R-Ohio, and Sen. Ted Cruz, R-Texas, that would repeal an IRS rule finalized in December that requires "DeFi brokers" to act like traditional securities brokers and collect information about their users' trades.