IRS DeFi Rule Gets Axed—What It Means For Crypto Investors
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Decentralized finance (DeFi) protocols might no longer report to American tax authorities after the US Senate repealed the IRS “broker” rule.
Many analysts believe that US President Donald Trump will issue a resolution in the upcoming weeks adopting the Senate’s legislative action and overturning the Biden-era policy on DeFi protocols.
Pro-DeFi Resolution Coming Soon?
Analysts suggest that Trump will be signing a resolution that would undo the rule implemented during the Biden administration that requires DeFi protocols to report to the US Internal Revenue Service (IRS).
It is a move…
