According to Eleanor Terrett, the Senate's second vote to overturn the DeFi broker rule is scheduled for this evening, with procedural votes starting at 5 PM and the final passage at 8 PM. Traders should be aware of potential market volatility as this decision could impact DeFi market regulations and broker operations.

According to @iampaulgrewal, the Senate has voted to repeal the IRS DeFi Reporting Rule, with 17 Democrats joining all Republicans in support. This decision may influence DeFi market activities by reducing regulatory burdens, potentially encouraging increased trading and market participation. The vote reflects a bipartisan effort to address industry concerns about regulatory clarity and overreach, which could impact future legislative approaches to cryptocurrency regulations.

According to Eleanor Terrett, Senator Ted Cruz plans to leverage the Congressional Review Act to repeal the IRS broker rule, potentially impacting cryptocurrency exchanges by revising reporting requirements. This development, if successful, could reduce compliance burdens for crypto brokers, making it a significant point of interest for traders. The motion to proceed will be voted on at around 11AM EST, per sources familiar with the situation.