DeFi Broker Rule Saga Ends with IRS Lawsuit Dismissal
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The long-running saga of the DeFi broker rule has come to an end. Crypto industry groups requested the dismissal of their lawsuit against the IRS on Wednesday, stating that Joint Resolution 25, passed with bipartisan support and signed into law by President Trump, has rendered the rule moot. The resolution reversed an IRS rule published in December that required certain decentralized finance industry participants to file and furnish information returns as brokers.
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