President Trump Signs Resolution Erasing IRS Crypto Rule Targeting DeFi
With a signature from President Donald Trump, the decentralized financial (DeFi) corner of the crypto sector is now freed from U.S. Internal Revenue Service demands that such platforms be treated as brokers and required to track and report user activity.
That narrowly focused IRS rule, approved in the final days of former President Joe Biden’s administration, has been formally struck down, according to Representative Mike Carey, an Ohio Republican who backed the effort. And the agency is prevented from pursuing anything like it, according to the Congressional Review Act power used by lawmakers to get rid of the tax regulation.
“The DeFi Broker Rule needlessly hindered American innovation, infringed on the privacy of everyday…
