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Senate Repeals DeFi Rule, Sparks Tax Haven Fears

4/11/2025

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Summary

Story summary

In a decisive 70-28 vote, the U.S. Senate has repealed the controversial DeFi Broker Rule, a move that critics warn could transform the nation into a tax haven for crypto evaders. While the rule sought to enhance compliance without adding new tax burdens, its removal raises concerns about accountability in the burgeoning digital currency landscape.

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Story summary

In a decisive 70-28 vote, the U.S. Senate has repealed the controversial DeFi Broker Rule, a move that critics warn could transform the nation into a tax haven for crypto evaders. While the rule sought to enhance compliance without adding new tax burdens, its removal raises concerns about accountability in the burgeoning digital currency landscape.