Forbes reporter: The final vote to repeal IRS's crypto broker rules for DeFi projects may take place tomorrow
Forbes journalist Eleanor Terrett wrote on the X platform that Republican Senator Ted Cruz plans to submit the "Congressional Review Act" to the Senate to abolish the "broker dealer rule" of the Internal Revenue Service (IRS). The bill is expected to be voted on tomorrow morning at 11 am (Eastern Standard Time) on whether to continue its progress.
According to sources, the Cruz team hopes to complete the final vote on the bill tomorrow afternoon or evening, but the State of the Union address may delay the vote until later this week.
If the bill passes both houses by a simple majority, it will abolish the IRS broker dealer rule of the U.S. Department of the Treasury. The rule expands the definition of "broker dealer" to include decentralized finance (DeFi) developers. Supporters of the CRA believe that the current form of the rule is not suitable for the unique nature of DeFi.
