Crypto Policy Summit 2025: U.S. Senate’s DeFi Victory & IRS Crypto Rule Repeal

The US Senate in overwhelming fashion voted 70- 27 to approve S.J.Res.3. The vote approved the repeal a bill which took aim at restricting Decentralized Finance ( DEFI). For the repeal to be finalized now must make it through another vote in the House of Representatives. Even though this bill has not completely gone through the political process the numbers clearly indicate a change on our governments view towards Crypto. The implementation of prior legislation made IRS reporting by DeFI protocols extremely difficult if not impossible. Support from Democrats voting, also signals the governments shift. If this Bill makes it through the House, and is signed by the President the IRS will be blocked from further attempts at expanding the “IRS Broker Rule. Senator Ted Cruz questioned the “Incoherent” approach of Federal overreach during the event. Speaking up for a Bill which put developers and DeFI user’s personal data in danger. Stay tuned for more Crypto News, as 2025 continues to set up a clearer regulatory environment for the Industry. CoinDesk did a great job reporting on the vote for those looking for a deeper dive on it’s implications.