Trump Signs Landmark Crypto Law, Repeals Biden-Era IRS Rule Targeting DeFi Platforms
Posted On April 11, 2025
In a landmark move for the cryptocurrency sector, President Donald Trump has signed into law a resolution overturning a controversial IRS rule introduced under his predecessor Joe Biden.
What Happened: The regulation in question required decentralized finance platforms to adhere to the same taxpayer reporting standards as traditional financial intermediaries.
This marks not only Trump’s first crypto-related legislative action but also the first time a sitting U.S. president has signed a crypto-specific bill into law.
The bill nullifies the IRS’s proposed DeFi broker rule, which had drawn fierce criticism from industry players and lawmakers alike for its impractical demands and …
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