BlockBeats News, April 11: U.S. President Trump has signed a bill announcing the official repeal of the IRS DeFi Cryptocurrency Broker Rule, making it the first cryptocurrency bill signed into law by a president.
Previously, the 2024 rule classified DeFi platforms as brokers, meaning they had to submit 1099 IRS forms for their users. Trump had stated that the rule "hindered innovation in the United States" and "invaded the privacy of ordinary Americans."
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