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Crypto Industry Asks Congress to Scrap IRS's DeFi Broker Rule

In what may be a big test of the crypto sector's new influence over a markedly friendlier U.S. Congress, it's asking for the reversal of an incoming tax policy.

Sen. Ted Cruz, R-Tex.
Senator Ted Cruz is trying to get the IRS's DeFi broker rule erased, and the industry is cheering him on. (Samuel Corum/Getty Images)