Sen. Cruz Applauds Signing of Cryptocurrency Resolution into Law

WASHINGTON, D.C.– U.S. Sen. Ted Cruz (R-Texas) released a statement following President Trump signing his Congressional Review Act (CRA) resolution regarding Decentralized Finance (DeFi). This resolution overturns an Internal Revenue Service (IRS) rule on cryptocurrency that would have defined certain developers as “brokers” for reporting and taxation.
Upon the CRA being signed into law,Sen. Cruz said,“This rule would have undermined American leadership on cryptocurrency and I am grateful to President Trump for signing my resolution into law. The resolution is a victory for innovation, privacy, and economic freedom. We are protecting the developers who are building the future of cryptocurrency, making clear that the United States will not cede digital leadership to China, and preserving the ability of Americans to conduct transactions without government interference.”
Sen. Cruz is the leader in the U.S. Senate on advancing cryptocurrency.
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