US Senator Lummis: IRS rules on DeFi fundamentally misunderstand how decentralized technology works

Crypto-friendly U.S. Senator Cynthia Lummis retweeted the news that "the White House will support the CRA to repeal the DeFi broker rule," saying, "The Internal Revenue Service (IRS) rules for DeFi fundamentally misunderstand how decentralized technology works. Wyoming has been at the forefront of responsible regulation of digital assets, and I have seen firsthand how regulatory clarity - not over-regulation - fosters innovation. These tough federal rules could push U.S. crypto entrepreneurs overseas at a time when we should be nurturing the industry at home. It's an honor to join Senator Ted Cruz in undoing this attack on the crypto community."