US Senate passes repeal of controversial crypto tax rules, Trump expected to sign

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MarsBit
03-27
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Mars Finance News, on March 27, the U.S. Senate passed a resolution with 70 votes to 28, repealing the cryptocurrency tax regulations issued at the end of the Biden administration. The bill will be submitted to President Trump for signature. The rule required some DeFi platforms to report user transaction information as securities brokers and issue 1099 forms, sparking privacy and compliance controversies. White House crypto advisor David Sacks said that senior presidential advisors will recommend signing the bill, which would become the first crypto bill signed during Trump's term. (Block)

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