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US President Donald Trump canceled a rule that would have required decentralized finance protocols (DEFI) to report all transactions to the Internal Department (IRS), often called the DEFI Courtier rule.
Trump officially killed the rule by signing a resolution on April 10, marking the first time a pro-Crypto measure has cleaned the US Senate.
The resolution of the rules of the broker Defi quickly found its way to the congress
The rule was introduced by the Biden administration during the last days of the former president in the White House.
He had to enter into force in 2027 and would have expanded the existing declaration requirements of the tax authority to include the DEFI platforms.
The resolution to kill the bill quickly made its way to the congress. It was transmitted from the chamber and means committee of the Chamber on February 25, the Chamber adopting the resolution on March 11.
Representative Mike Carey, who supported the bill to remove the DEFI broker's rule, said in a statement That the rule “embarrassed American innovation, violated the privacy of everyday Americans, and had to overwhelm the IRS.
🚨 History made 🚨
Just now, @Potus I signed my bill to repeal to the IRS DEFI Crypto Broker rule.
This is the first cryptocurrency bill never signed by a president.@Housegop Work to keep America as a cryptographic world capital!
– The Mike Carey Congress member (@repmikecarey) April 10, 2025
However, not everyone shares Carey's point of view. The opposition to the resolution, including the Democratic representative, Lloyd Doggett, argues that killing the rule of the broker Defi would open a escape that the rich can exploit to deceive the tax system.
Stablescoin legislation is the next cryptographic priority for congress
Depending on the resolution to remove the DEFI broker ruleThe next priority linked to crypto for congress is stable legislation.
The bills linked to the legislation on stablescoin have already adopted the committees concerned both in the chamber and in the Senate, and are now waiting for the votes on the ground in each room.
President Asset also called for a bill on stables to arrive on its office by August, which, according to legislators working on legislation, is a feasible calendar.
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