IRS DeFi Broker Rules Are Now Officially Repealed

Odaily News US President Trump has signed a bill to formally repeal the IRS (Internal Revenue Service) DeFi crypto broker rules, the first cryptocurrency bill signed into law by the president.
The previous 2024 rule classified DeFi platforms as brokers, meaning they had to file 1099 IRS forms for their users. Trump has said the rule "hinders American innovation" and "infringes on the privacy of ordinary Americans."