In a significant move, President Trump has signed a resolution that aims to dismantle the IRS ruling focused on the taxation of decentralized finance (DeFi) activities. This decision is part of a broader effort to cut back on regulations perceived as burdensome by the crypto community and to foster innovation within the sector. The IRS rule under scrutiny had implications for how individuals participate in DeFi, potentially requiring them to report complex transactions leading to complications in tax compliance. Trump's resolution is expected to energize the DeFi market by reducing regulatory hurdles, allowing more participants to engage in these financial services which operate without central authority. Advocates of the measure argue it will pave the way for more growth and adoption of blockchain technology, especially as DeFi continues to gain traction.

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