On March 11, 2025, the Ways and Means Committee Chairman Jason Smith delivered remarks during floor debate to initiate a Congressional Review Act resolution to invalidate the Biden Administration's DeFi broker dealer rules that were finalized in December 2024 (TD 10021). As stated by Chairman Smith, "the rule disincentivizes the very innovation that has powered American leadership in the digital asset industry. In a global economic competition with China, this rule chips away at a source of American economic strength." See H.R. Res. 25.
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