US House Rejects IRS Defi Broker Rule, Solana Vows To Keep 80% Inflation Rate: Finance Redefined

(MENAFN- crypto Breaking) In a significant development, the U.S. House has voted against the IRS's proposed DeFi broker rule, which would have required decentralized finance (DeFi) brokers to report transactions over $10,000 to the government. This decision comes as a relief to the DeFi community, as it would have imposed significant regulatory burdens on DeFi platforms and users.

Additionally, Solana , a prominent blockchain platform, has announced that it will not be cutting its inflation rate by 80%. This decision follows a proposal to reduce the inflation rate, which was met with mixed reactions from the Solana community. By maintaining the current inflation rate, Solana aims to balance the needs of stakeholders while ensuring the network's stability and growth.

These developments highlight the ongoing regulatory challenges facing the cryptocurrency and DeFi sectors. As the industry continues to evolve, it is essential for regulators to strike a balance between fostering innovation and protecting investors. By staying informed and engaged, stakeholders can help shape policies that support the growth and development of the crypto ecosystem.

For more updates on these developments and other news in the cryptocurrency space, stay tuned to CoinTelegraph for the latest updates and analysis. Stay informed and be part of the conversation shaping the future of finance.

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