Senate Overturns Biden's DeFi Tax Reporting Rule in Decisive Vote
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The US Senate has voted 70-28 to repeal a cryptocurrency tax reporting requirement for DeFi protocols implemented during the Biden administration. The resolution now heads to President Trump's desk, with his advisor indicating support for eliminating the IRS reporting mandate.
Senate Makes History with First-Ever Cryptocurrency Subcommittee Under Banking Panel
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The U.S. Senate establishes its first dedicated cryptocurrency subcommittee, chaired by Senator Cynthia Lummis under the Senate Banking Committee. This groundbreaking initiative aims to develop comprehensive regulatory frameworks and influence crypto policy direction ahead of presidential transition.