According to Jake Chervinsky, the Senate has voted 70-27 in favor of the Cruz/Carey CRA, which aims to repeal the IRS broker rule that requires DeFi front-ends to implement KYC for users. This vote, supported by 19 Democrats, marks a significant victory for the crypto industry, showcasing strong bipartisan support. The next step is for the legislation to be considered by the House.

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, bipartisan support for Senator Hagerty's stablecoin bill, the GENIUS Act, is increasing. Maryland Senator Angela Alsobrooks has joined as a co-sponsor, marking the first Democratic member of the Banking GOP to do so. This development is significant as it indicates growing legislative backing, potentially influencing stablecoin regulation and market dynamics. The inclusion of Democrats like Senator Gillibrand as co-sponsors highlights the bill's cross-party appeal, which could lead to swift progress and impact on the cryptocurrency market.