President Donald Trump has signed a bill repealing the IRS’s “DeFi Broker Rule,” a regulation that would have imposed stricter tax reporting requirements on decentralized finance (DeFi) platforms.
Backed by Republican lawmakers and passed through the Congressional Review Act, the rule aimed to classify DeFi developers and self-custodial wallet creators as “brokers” obligated to report user transactions to the IRS by 2027.
Critics argued the rule was unworkable due to DeFi’s anonymous nature and warned it could push crypto innovation offshore.
Its repeal is seen as a major win for the crypto industry, emphasizing privacy and innovation.
The move aligns with Trump’s broader pro-crypto agenda, which includes forming a federal crypto task force, scaling back SEC enforcement, and reversing several Biden-era crypto crackdowns.
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