‘Congress Is Aligned with Innovation,’ Says Sei Labs General Counsel

Last week, an IRS rule that threatened to upend decentralized finance (DeFi) was officially repealed. The bipartisan disapproval resolution, led by Rep. Mike Carey (R-Ohio), was signed by President Donald Trump on April 10, per the official committee press release . Introduced in the final days of the Biden administration, the so-called DeFi broker rule — formally titled “Gross Proceeds Reporting by Brokers that Regularly Provide Services Effectuating Digital Asset Sales” — was a new reporting rule from the IRS and the Treasury Department. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant