President Donald Trump signed his first crypto-related bill into law Thursday, formally eliminating a Biden-era IRS rule that would have required decentralized finance platforms to collect and report the same taxpayer information as traditional brokers.
The bill is, in fact, not just the first crypto-related bill made law by Trump, but also the first crypto-related bill signed by any U.S. president.
The resolution knocks down the IRS’s so-called DeFi broker rule, which was first proposed by the Biden administration in 2023.
U.S. Representative Mike Carey (R-Ohio), who attended the signing ceremony, said that by repealing the rule, the IRS now has an opportunity to “return its focus to the duties and obligations it already owes to…
Apr 13 2025
