Trump Signs Historic Bill Repealing IRS Rule Targeting DeFi Platforms

The repeal, supported by bipartisan efforts, removes broker reporting requirements for decentralized finance, signaling a shift toward innovation-friendly crypto regulation.

President Donald Trump has signed his first crypto-related bill into law, repealing a Biden-era IRS rule targeting decentralized finance (DeFi) platforms.
The now-repealed rule had required DeFi platforms to collect and report taxpayer information like traditional brokers, sparking criticism from industry leaders and lawmakers.
The repeal marks the first successful pro-crypto legislation to clear Congress, gaining strong bipartisan support in both the House and Senate.
Industry advocates view the repeal as a milestone, emphasizing its potential to foster innovation and reduce compliance burdens for digital asset platforms.
The legislative victory paves the way for future crypto regulations, with stablecoin legislation and broader market rules already under consideration in Congress.