Trump Repeals Controversial Crypto Tax Rule
U.S. President Donald Trump has signed into law a resolution repealing a contentious Internal Revenue Service (IRS) rule that would have imposed stringent data reporting requirements on cryptocurrency brokers, The Block reported on Thursday.
The resolution, which overturned a rule finalized during the previous Biden administration, was championed by Republican lawmakers, including Senator Ted Cruz and Representative Mike Carey. The White House had previously characterized the IRS measure as a “midnight regulation,” suggesting it was rushed through in the final days of the prior administration.
Representative Carey, who attended the signing ceremony on Thursday, hailed the repeal as the first crypto-related bill to be signed into…
