The U.S. House of Representatives voted to repeal the Biden-era 'DeFi Broker Rule' with a significant bipartisan support of 292 votes in favor and 132 against. The rule required custodial brokers to report user data to the Internal Revenue Service (IRS), a move seen as potentially stifling innovation in the cryptocurrency sector. Notably, 76 Democrats joined Republicans in this vote, reflecting a broad consensus against the rule. The Senate Banking Committee advanced the GENIUS Act, aimed at establishing a comprehensive regulatory framework for stablecoins, with a vote of 18-6. The legislation received support from both Democrats and Republicans, indicating a bipartisan effort to regulate the digital asset space. The bill's passage from the committee marks a step toward federal oversight of stablecoins, which are digital currencies designed to maintain a stable value relative to a fiat currency like the U.S. dollar. Five Democrat Senators voted in favor of the bill. Senator Elizabeth Warren, a critic of the crypto industry, attempted to introduce amendments to the GENIUS Act that would have imposed stricter regulations on stablecoin issuers, including measures to prevent their use in illegal activities and to impose KYC requirements on non-custodial software providers. However, these amendments were rejected, and the bill moved forward without them, showcasing differing views among Democrats on cryptocurrency regulation.