US House kills IRS DeFi broker rule, Solana won’t cut 80% inflation rate: Finance Redefined
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House Financial Services Committee Chairman French Hill applauded the overturning of the DeFi broker rule, calling it “a clear example of government overreach” that threatened the country’s crypto development.
In a significant regulatory development for the crypto industry, the United States House of Representatives voted to nullify a bill that threatened the privacy-preserving properties of decentralized finance (DeFi) protocols.
In the wider crypto space, one of the Solana network’s most significant governance proposals was rejected; it sought to implement a mechanism to reduce Solana’s inflation rate by about 80%.
The US House of Representatives voted to nullify a rule requiring decentralized finance (DeFi) protocols to report to the Internal Revenue Service.
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