The House of Representatives of the US Congress voted for canceling the Rules of the American Tax Service (IRS), which obliges cryptocracks to collect and inform information about all taxpayers and their transactions with digital assets to the regulatory department.

The new IRS collection rules for the collection of data on cryptocurrency transactions are approved against the backdrop of the law on investment in infrastructure and workplaces of 2021, which tightened financial statements for all cryptocurrency companies in the United States. The authors of the law argued that the rules are necessary to increase tax discipline and can help the authorities collect billions of dollars of unpaid taxes.

During the discussion in the Congress, supporters of the abolition of the IRS rules drew the attention of legislators that the US tax authorities have long and unsuccessfully trying to impose traditional forms of reporting to participants in the decentralized digital finance system, which in their nature works in an excellent way. Some were Concernedthat the IRS rule “has an unbearable burden on the developers of software, cryptostarta) and blockchain projects, displacing innovation outside the United States.”

The House of Representatives took voted for the abolition of the tax rules of IRS for cryptobrackers with a simple majority of 292 votes against 132. The proposal was transferred to coordinate the Senate.

Earlier, special adviser to US President Donald Trump for cryptocurrencies, Cryptosar David Sacks spoke out against the taxation of cryptotransications with an additional tax that theoretically could go to the purchase of cryptocurrencies to replenish the strategic state bitcoin reserve.