Odaily News On March 12, 2025, the U.S. House of Representatives passed a resolution by 292 votes to 132, overturning the U.S. Internal Revenue Service (IRS) rule requiring cryptocurrency platforms (including decentralized financial DeFi entities) to collect and report taxpayer and transaction data. The resolution has bipartisan support and aims to avoid imposing unreasonable regulatory burdens on DeFi platforms. Opponents believe that this move could encourage tax evasion and criminal activities and increase the national debt by $4 billion. The IRS said the rule is designed to ensure tax compliance and is consistent with existing broker regulations. If passed by the Senate and signed by President Trump, the IRS will be permanently prohibited from implementing similar rules. (Financefeeds)