In April 2025, U.S. cryptocurrency regulation reached a historic turning point—President Trump officially signed a bill that repealed the controversial tax reporting rules imposed by the IRS on decentralized finance (DeFi) platforms. This move not only marks the official enactment of the first bill specifically targeting the cryptocurrency sector in the U.S., but also represents a significant shift in the U.S. stance on digital asset regulation.
Today, President Trump signed a joint resolution of Congress that officially repealed the "DeFi broker rule" established by the IRS during the Biden administration. This bill was proposed by Republican Senator Ted Cruz under the Congressional Review Act (CRA) and gained overwhelming bipartisan support in both chambers of Congress: the Senate passed it with a vote of 70 to 28, while the House passed it with a supermajority of 292 to 132.