The House voted Tuesday to overturn an IRS disclosure requirement for certain cryptocurrency brokers, sending the measure blocking the Biden-era rule to a bipartisan coalition of allies in the Senate and White House.
The bipartisan vote—292-132, with one lawmaker voting present—is aimed at relieving decentralized cryptocurrency exchanges, known as DeFi, from reporting sales proceeds and transaction dates. Those automated platforms lack the backing of a particular company in comparison to other more traditional securities brokers.
Senators already voted 70-27 last week to advance identical legislation from Sen. Ted Cruz (R-Texas), with over a dozen members of the Democratic caucus joining ...
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