President Trump Signs Bill Overturning IRS Rule on DeFi Platforms

The U.S. Internal Revenue Service's (IRS) requirement for decentralized finance (DeFi) platforms to act as brokers has been eliminated following President Donald Trump's signature on a resolution. Key points include:

• The IRS rule was officially revoked, preventing similar regulations in the future.
• This marks a significant win for pro-crypto initiatives in Congress.
• The repeal received bipartisan support from both the Senate and House of Representatives.
• Congress is now focusing on stablecoin legislation, with bills awaiting votes in both chambers.
• Lawmakers aim for stablecoin legislation to be completed by August.