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Trump’s return to Washington kicks off flurry of crypto-related activity, IRS challenges and focus on crypto debanking

As Trump resumes power, executive orders concerning digital assets are anticipated, potentially including the creation of a crypto council that may involve 10 to 100 members from the crypto industry.

Lawmakers are preparing to contest a controversial DeFi tax reporting rule by the IRS, which mandates brokers in decentralized finance to disclose digital asset sale proceeds. This challenge is seen as a pushback against perceived regulatory overreach.

Congress is investigating the trend of debanking within the crypto sector, with new hearings expected as lawmakers address challenges to industry access to banking services, citing accusations of unfair operational constraints.

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