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The decision to dismantle the controversial Defi Defi Broker is heading to President Donald Trump’s office to obtain the ax after the approval of the Senate.
The vote, which Pass By a majority of 70-28, an important step is to reduce the supervision of the IRS service (IRS) on decentralized platforms.
Defi Broker base requires decentralized financing platforms to report encryption sales and detect treatment details, including user information.
Supporters have argued that he would enhance transparency, but critics have warned that it may suffocate innovation and impose the costs of exhausting compliance on Web3 platforms.
The Senate was expected to kill the Alfi Base
the Defi The mediator base requires decentralized platforms to provide its total revenue from encryption sales in addition to including user information involved in both transactions.
The critics of the DEFI base claimed that he would collide with decentralized platforms with arduous rules and reporting requirements, thus limiting innovation in the web3 space.
The Senate was expected to be approved due to the issuance of a copy of the decision earlier this month. However, the House of Representatives presented its own version due to the constitutional rules about the place where budget measures should be established.
Now, the decision will go to the Trump office, where it is expected to put an end to the DEFI broker. David Sachs, of artificial intelligence and encryption, David Sachs, said Trump supports the killing of the base.
The White House is pleased to announce its support for Cra SentCruz and Repmikecarey To cancel the so -called DEFI, a 11 -hour attack on the encryption community by the Biden Administration. pic.twitter.com/t7hxSb4ac
David Sachs (@Davidsocks47) March 4, 2025
The regeneration of the encryption community, while the legislators warn against exploitation
The voices of the pioneer in the encryption community, such as Christine Smith, CEO of Blockchain Association, were wounded by the Senate’s vote in a statement.
The following statement is attributed to the CEO of Blockchain Association @kmsmithdc After the second Senate vote today, the decline of the DEFI Broker Base: pic.twitter.com/s632L8sfab
Blockchain (Blockchainassn) Association March 27, 2025
Likewise, the encryption analyst and merchant Dan Ghambbardo He said His followers are more than 288 thousand on X that the decision is a “huge encoding victory”, adding that he “wipes the way to innovate in Defi”.
On the other hand, legislators warn that the decision can make tax evasion and money laundering much easier.
Among the critics is the Democratic actor Lloyd Dujet. he He said Earlier this month, the killing of the Tax Authority Defi The mediator base will create “a loophole that will be used by wealthy tax fraud, drug dealers and terrorist financiers.”
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