U.S. Government Drops Controversial Crypto Tax Rule

The now-scrapped regulation (TD 10021, RIN 1545-BR39) would have mandated that decentralized exchanges (DeFi platforms) report detailed customer transaction data to the Internal Revenue Service under Section 6045 of the tax code.

The rule had drawn widespread criticism from crypto advocates who argued that DeFi protocols, often automated and without traditional staff, were incapable of complying with such requirements.

The repeal was driven by Republican lawmakers using the Congressional Review Act to roll back the measure. The resolution to revoke the rule was signed into law by President Donald Trump in April.#DeFiEducation #TrumpTariffs #tarriffrelief