President Donald Trump just made crypto history. In his first crypto-related legislative action, Trump signed a bill repealing the IRS DeFi broker rule — a controversial regulation from the Biden era. The law had required decentralized finance platforms to report user tax data like traditional brokers, which clashed with DeFi’s core principle of anonymity.
With bipartisan support (70–28 in the Senate), the repeal signals growing government recognition that DeFi can’t be regulated like Wall Street. Industry leaders and privacy advocates are calling it a huge win.
Bo Hines of the White House Crypto Council called it “a golden age for digital assets.” Whether it’s politics or progress, one thing’s clear: the DeFi space just caught a serious tailwind.
Takeaways
First U.S. crypto law signed by Trump
IRS DeFi broker rule officially overturned
Strong bipartisan support backs the move
Seen as a win for innovation and privacy
Source: FXSTREET
