The US Senate voted in favor of a proposal to cancel the tax department base targeting decentralized financing platforms (Defi). The proposal is now heading to President Donald Trump’s office for its expected signature.
According to the latest reports, the decision is about to become a law, and perhaps by the end of this week.
Legislators are transmitted to cancel the base
On March 26, the Senate voice 70-28 to pass HJ accuracy. 25Senator Ted Cruz and actor Mike Curry. This vote represents the second time this month that the decision was passed, after a vote 70-27 on March 4.
The procedural condition with regard to budget measures requires a re-vote after the approval of the House of Representatives on its version in 292-132 account.
“This wipes the way to innovate in Defi. This is the bullish list, more growth, as we were saying,” books Dan Gambardlo on X.
Meanwhile, Eleanor Teret, a host of Crypto in America, cited the Senate Source, revealed that the draft law could become a law early on Friday.
“A decision to cancel the BEFI Defi Base can become a law by the weekend,” which is I mentioned.
Territ Add If Trump signs the CRA law, this will be the first bill related to encrypted currencies to become a law. It is worth noting, earlier this month, David Sachs announced the artificial intelligence of the White House and Crypto CZAR, its support for this decision.
“If SJ RES 3 is offered to the president, his senior advisers will recommend signing the law.” to publish
If passed, the decision will make a major victory for the coded currency industry and a step towards reducing organizational control in the Defi sector.
Evolution comes amid a broader batch for organizational clarity. On March 26, the Defi Edutual Fund, along with an alliance of organizations, presented a letter to the leading committees in the Senate and Senate patients on banking, judicial services and financial services.
The message aims to address the misunderstanding of the Ministry of Justice in the interpretation of the laws of money transfer.
“We write to urge you to correct the unprecedented and expansionist Ministry of Justice to provide the criminal law that prohibits the operation of” unlicensed money transfer work “as is software developers,” letter Read.
The coalition argues that the interpretation of the Ministry of Justice creates mystery. This can criminalize software developers working in Blockchain space.
Specifically, this will affect those who use non -guardians who do not control or own customer boxes. This position can threaten the authority to develop the US -based software in the digital asset industry and beyond.
Moreover, the message emphasizes that the position of the Ministry of Justice contradicts the current guidelines of the Fincen and previous legal interpretations. Thus, this can lead to an unfair transgression and treatment for Blockchain developers.
The signatories, including Paradigm, A16z Crypto, Polygon Labs, Coinbase, Kraken, and others, require the Congress to urge the Ministry of Justice to clarify its position. It aims to ensure compatibility with legal precedents, with the purpose of Congress and preventing the suffocation of innovation in the American technology sector.
Disintegration
In adherence to the confidence project guidance, beincrypto is committed to unprepared and transparent reporting. This news article aims to provide accurate information in time. However, readers are advised to independently verify facts and consult with a professional before making any decisions based on this content. Please note that the terms, conditions, privacy policy have been updated and the evacuation of responsibility.
