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President Trump Signs Resolution Erasing IRS Crypto Rule Targeting DeFi
President Trump Signs Resolution Erasing IRS Crypto Rule Targeting DeFi
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With a signature from President Donald Trump, the decentralized financial (DeFi) sector is freed from U.S. Internal Revenue Service demands that such platforms be treated as brokers and required to track and report user activity. The narrowly focused IRS rule, approved in the final days of former President Joe Biden’s administration, has been formally struck down. Both the Senate and House of Representatives agreed to reverse this rule, marking the first time a pro-crypto effort has cleared the U.S. Congress. No specific cryptocurrencies or exchanges were mentioned in the resolution.
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