Trump to sign the first Crypto bill – the DEFI broker’s rule is dead
Login to get your referral link.
16,783
Lunam Points
At least for the moment, the cryptography industry has just made a major victory with this new update linked to the IRS Crypto Reporting. On April 10, 2025, President Donald Trump signed a bill officially killed An IRS rule requiring decentralized financing platforms (DEFI) to report data from user transactions to the government. This rule, finalized at the end of last year under the Biden administration, had expanded the definition of a “broker” to include traditional crypto exchanges and Protocols DEFI, even those It works on smart contracts without a single employee.
The rule initially Coming from the investment law and investment jobs in the 2021 infrastructure, which aimed to repress the tax evasion of cryptography. Legislators have thought that the IRS should know if you make gains in defi. But the problem? DEFI protocols do not work as centralized exchanges. They do not have KYC forms or customer service offices. There is no easy way for them to report user data, even if they wanted it.
Quick advance until 2025 and the counterpoupte struck a boiling point. The leaders, developers and industry legislators qualified the surface rule. Enter the Congressional Review Act, a tool rarely used which allows the Congress to overthrow the newly finalized regulations with a simple majority vote.
Trump to sign the first Crypto bill – the DEFI broker’s rule is dead
The Senate has just crushed Rule 70-28 of the surveillance of the IRS after the Chamber has already demolished 292-132, giving the developers of cryptosis a massive victory against the government of the government.
Critics have celebrated the death of … pic.twitter.com/trvljglhkj
– Mario Nawfal (@marionawfal) April 11, 2025
Republicans of the accusation, with representative Mike Carey (R-Ohio) and Senator Ted Cruz (R-Texas) in the foreground. Their argument? The rule was too wide, poorly thought and risked overwhelming innovation in a sector that the United States should be directed – no regulation in oblivion.
The bill crossed the two chambers of the Congress and landed on the office of Trump, where it has not waste time to sign it. This decision marks the first piece of legislation linked to the crypto promulgated during its second term.
Naturally, the world of cryptography breathes a little easier. For Defi developers, this means that they do not expect To make the impossible, like the reports on users they do not control or do not even know. The repeal removes a major regulatory headache and indicates that the government could finally try to understand how decentralized systems In fact function.
That said, it’s not all champagne and memes. Some experts fear that the abrogation will leave a gaping hole in the application of the tax. Without clear Report, the IRS will have more difficult monitoring of monitoring of the DEFI activity. And although this may look like a victory for defenders of privacy, this raises long -term questions on the question of whether space can grow permanently without responsibility.
This does not happen in isolation. The Trump administration has quickly progressed on cryptographic policy. In just a few months, Trump signed an executive decree to create a Bitcoin national reserve and launched a working group focused on the rewriting of the federal approach to digital assets.
The message is clear: this white house wants a practical and pro-innovation position on the crypto. However, if this leads to more intelligent or simply less to see regulation.
In the meantime, Defi can continue to build. The question Is it: can space self-regulate before another wave of rules come back?
DISCOVER: 20+ Next Crypto to explode in 2025
Join the 99Bitcoins News Discord here for the latest market updates
President Trump repealed the IRS rule which forced the DEFI platforms to report user transactions, deleting a major regulation of the Biden era.
The rule of origin has labeled the protocols DEFI as “brokers”, despite their lack of centralized control or user data.
The leaders and legislators of the cryptographic industry qualified the surface rule, which led to its repeal via the Congressal Review Act.
This decision indicates an evolution towards the policy of pro-innovation cryptography under the second term of Trump.
While the developers celebrate, some experts warn that the repeal weakens the application of the tax and leaves a regulatory difference.
The Post Trump repeals the IRS rule which targeted the DEFI platforms in the repression of tax reports appeared first on 99Bitcoins.