US President Donald Trump has signed a joint council resolution to repeal rules that would have requested defi protocols to report to the Internal Revenue Service.
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On April 10, US President Donald Trump signed a joint council resolution overturning Biden-era rules that require decentralized finance (DEFI) protocols to report to the country’s tax authorities, the Internal Revenue Service.
The rules required Defi platforms, such as decentralized exchanges, to submit gross revenue from crypto sales and include information about those involved in the transaction.
Trump was widely expected to sign the bill as White House AI and Crypto Czar David Sacks said in March that the president supported killing the measure.
This is a developing story, and more information will be added as it becomes available.
