Internet reported that the U.S. House Committee voted 26 - 16 to pass a resolution aimed at revoking the Internal Revenue Service (IRS) tax rules on decentralized financial (DeFi) platforms. The resolution was proposed under the Congressional Review Act and aims to overturn the tax reporting policy for DeFi platforms passed by the IRS in December last year. The IRS previously required the DeFi agreement to comply with a reporting system for brokers, sparking strong opposition from the crypto industry. The industry believes the move will threaten the way the DeFi protocol works and could cover a large number of non-broker entities. The resolution still needs to be approved by a majority in the House and Senate and signed by the president to take effect. Proponents argue that the IRS rules are "unfair and unfeasible," while opponents argue that repealing the rules will reduce U.S. tax revenue by about $3.9 billion over the next decade.