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U.S. Treasury officially removes IRS controversial Biden-era on DeFi.

DeFi platforms secured a major win in compliance after the U.S. Treasury officially removed the controversial Biden-era IRS reporting rule.

DeFi platforms got a major win regarding compliance with the Internal Revenue Service. On Thursday, June 10, the U.S. Treasury Department officially eliminated the DeFi broker reporting rules. The controversial Biden-era rule required DeFi platforms to issue IRS 1099‑DA forms for all user transactions.

This repeal was the result of earlier legislative action. Earlier this year, the U.S. Congress repealed the rule under the Congressional Review Act, and President Donald Trump signed the bill in April. DeFi-friendly Congressmen viewed the rule as a burden on DeFi platforms and contrary to the principles of decentralization.#Write2Earn #ShariaEarn #BTCBreaksATH #BinanceTurns8 $BTC $ETH $BNB