Resolution to kill IRS DeFi broker rule heads to Trump’s desk

US President Donald Trump is expected to sign off on a resolution undoing a rule that requires DeFi protocols to report to US tax authorities.

Update (March 27, 3:03 am UTC): This article has been updated to add background and information on the resolution.

US President Donald Trump is expected to sign a resolution to kill a Biden administration-era rule that requires decentralized finance (DeFi) protocols to report to the Internal Revenue Service after the legislation passed the Senate on March 26.

The Senate voted 70-28 to pass a motion repealing the so-called IRS DeFi broker rule that aimed to expand existing IRS reporting requirements to crypto.

Read more