Trump Signs Bill Repealing IRS Crypto Broker Rule
Trump Signs Bill Repealing IRS Crypto Broker Rule
馃幆 IRS Backs Off DeFi
President Trump has signed legislation repealing an IRS rule that would have classified decentralized cryptocurrency exchanges (DEXs) as brokers. The move marks a significant shift in crypto regulation.
Key points:
- Previous rule would have imposed strict reporting requirements on DeFi platforms
- Repeal reduces compliance burden for decentralized exchanges
- Decision signals more nuanced approach to blockchain regulation
The change could lead to increased DeFi activity in the US market. For more details, see the full report at Reuters
Earlier this month, President Trump signed a bill repealing an IRS rule that expanded the definition of a broker to include decentralized crypto exchanges, according to the White House. The decision eases compliance pressure on DeFi platforms and signals a shift toward more
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