According to Eleanor Terrett from Foresight News, the U.S. Senate has passed the Congressional Review Act (CRA) for the second time with an overwhelming vote of 70-28, aiming to repeal the IRS "broker" reporting rules for DeFi platforms. If ultimately enacted, it would exempt DeFi protocols from the same user information reporting obligations as traditional brokers.

Foresight News previously reported that the IRS required DeFi brokers to report total sales proceeds of digital assets and provide 1099 forms to clients, collecting user transaction information, including names and addresses.