Ohio Representative Mike Carey said the resolution to kill the IRS rule also marks the first time a crypto bill has ever been signed into law.
Update April 11, 1:46 am: This article has been updated to include more information and background on the resolution.
US President Donald Trump has signed a joint congressional resolution overturning a Biden administration-era rule that would have required decentralized finance (DeFi) protocols to report transactions to the Internal Revenue Service.
Set to take effect in 2027, the so-called IRS DeFi broker rule would have expanded the tax authority’s existing reporting requirements to include DeFi platforms, requiring them to disclose gross proceeds from crypto sales, including information regarding taxpayers involved in the transactions.
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