Trump signs pro crypto bill
|Donald Trump has made history by becoming the first U.S. president to sign a crypto-related bill into law, overturning an IRS rule that threatened the future of DeFi
Donald Trump has become the first U.S. president to sign a crypto-related bill into law, officially repealing an IRS rule from the Biden administration that targeted decentralized finance (DeFi) platforms. The rule would have forced DeFi protocols to follow the same tax reporting requirements as traditional brokers—a move widely criticized as unworkable and damaging to the industry.
Critics argued that DeFi protocols, which operate through automated code, could not realistically comply with such requirements, and that the rule threatened both privacy and innovation. Despite this, the IRS pushed the regulation through during Biden’s final months in office.
The repeal saw rare bipartisan support in Congress, highlighting a broad consensus that the rule was overreaching. Industry leaders welcomed Trump’s action as a historic shift in crypto policy, calling it a sign that the U.S. is moving toward a more practical and innovation-friendly approach to digital assets.
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