Crypto Chaos: IRS Gets Schooled by Senate – Trump’s Next Move?

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So, the Senate basically said “not today, IRS” with a70-28 vote that’s sending a crypto rule back to the Stone Age. It’s like watching your annoying ex get stood up at prom – satisfying.

Ted Cruz, the senator from Texas (and apparently the new knight in shining armor for DeFi), was all smiles on March26. He managed to rally both sides of the aisle to kick a pesky IRS rule to the curb. This rule had the audacity to call DeFi software developers “brokers.” I mean, come on, that’s like calling a pizza delivery guy a chef. 🍕

The whole shebang was a grand whopping success, passing the Senate and the House like a hot knife through butter. Next stop? President Trump’s desk. Because apparently, we’re living in a time loop where it’s still2020.

Cruz, not one to shy away from a mic drop moment, was all about defending the land of the free and the home of the blockchain. “Crypto’s the new kid on the block, driving our economy like a Tesla on autopilot,” he quipped, adding some zingers about Biden’s regulatory shenanigans.

“Can’t wait for Trump to sign this into law. It’s like watching the finale of your favorite show – you know, the one where the good guys actually win.”

The IRS rule in question was as popular as a Facebook status update from your conspiracy theorist uncle. Titled something about brokers and digital assets, it was about as clear as mud and twice as messy. Developers were like, “Hold up, we’re just making apps, not laundering money.”

“Calling us brokers is like calling a librarian a book author. We’re just here to facilitate, not to take your Monopoly money.”

And let’s not forget the army of crypto policy groups that had Cruz’s back. Over75 members of the Blockchain Association and a bunch of other fancy names wrote a love letter to his resolution. It was like watching the Avengers assemble, but with more blockchain and less spandex.

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2025-03-27 16:29