Texas Challenges IRS Cryptocurrency Regulations: Key Insights on Compliance and Impact for Businesses
The U.S. Senate recently passed a resolution with a 70-28 vote, led by Senator Ted Cruz (R-Texas), to reverse a Biden administration rule that regulated software developers involved in decentralized financial (DeFi) technology. The rule classified these developers as “brokers,” despite them not handling any cryptocurrency directly. This resolution, which already cleared the House, now ...
