Trump signed the repeal of the Crypto rule approved by Biden in his final days! - Coin Bulletin

U.S. President Donald Trump signed a measure that repeals the IRS tax rule issued in the final days of the Biden administration, directly affecting DeFi projects.

Trump, with a decision passed by Congress, repealed the new rule that opened the way for the taxation of decentralized finance (DeFi) projects within the United States. This rule required DeFi platforms to monitor and report user activities and file tax returns. Ultimately, with Trump's signature, the repeal of this rule was achieved, and the IRS was prevented from making such regulations.

This solution, which received strong support in Congress, is considered an important victory for the crypto sector. This rule, which wants DeFi platforms to behave similarly to traditional financial intermediaries, had raised serious concerns in the industry. However, this proposal put forward by Republican senators Ted Cruz and Mike Carey passed with a solution accepted by both wings, demonstrating that for the first time a "pro-crypto" step has been taken by Congress in the crypto world.

New direction for the sector

This signature eliminates the heavy tax burden on DeFi projects, granting more freedom to the sector. The solution signed by Trump also ensures the protection of software developers in the DeFi space and supports the development of decentralized technologies. The crypto industry emphasizes that the U.S. needs to adopt a more predictable and forward-looking approach towards digital assets.