Trump Becomes First U.S. President to Sign Crypto Bill into Law

Donald Trump has signed a crypto-related bill into law, repealing an IRS rule from the Biden administration targeting decentralized finance (DeFi) platforms. This rule would have imposed traditional tax reporting requirements on DeFi protocols, deemed unworkable and harmful by critics.

Critics stated that DeFi protocols operate through automated code and cannot comply with such regulations.
The rule was seen as a threat to privacy and innovation.
The repeal received bipartisan support in Congress, indicating consensus on the issue.
Industry leaders view this action as a historic shift towards a more innovation-friendly U.S. crypto policy.