Big news for cryptocurrency! The U.S. House is trying to stop a new tax rule on DeFi (decentralized finance). DeFi is like a special bank system using cryptocurrency, where people can lend and borrow money without needing a regular bank. This new rule would make it harder for these DeFi systems to work.
- The House voted to reverse a tax rule that would affect how cryptocurrency transactions are reported.
- Many crypto companies didn't want this rule because it's confusing and hard to follow.
- This could mean less tax money for the U.S. government – around $3.9 billion over ten years.
| Topic | Information |
|---|---|
| Possible Tax Loss | $3.9 billion over 10 years |
| House Vote | 26-16 in favor of reversing the rule |
