#BreakingCryptoNews
President #DonaldTrump signs first US crypto regulatory bill into law šš¤š¤š¤«šš
President Donald Trump has officially become the first US president to sign a crypto bill into law.The new law prevents the IRS from demanding tax returns from decentralized service providers.The bill received bipartisan support before reaching the President's desk.
President Donald Trump signed a bill on Thursday that repeals the Internal Revenue Service's (IRS) DeFi broker rule in theĀ United StatesĀ (US), preventing DeFi platforms from submitting the tax information of their users.
The law marks another step forward in the Trump administration's promise of proper regulatory measures for the crypto industry.
Earlier in the week, the Department of Justice (DOJ)Ā closedĀ its unit in charge of crypto investigations, stating that it does not directly regulate crypto companies.