The saga surrounding the DeFi broker rule has concluded after over three years, marked by a recent request from crypto industry groups to dismiss their lawsuit against the IRS. This action was taken following the enactment of Joint Resolution 25, which nullified an IRS rule mandating specific decentralized finance players to file as brokers. This resolution received bipartisan support in Congress and was signed into law by President Trump, officially overturning the previous regulation. The timeline of events highlights the swift legislative response after the administration change, from the initial lawsuit filed in December to the final resolution in April. Notably, this issue was rooted in a 2021 law that expanded the definition of 'broker' to include various participants in digital asset transactions. Blockchain Association CEO Kristin Smith, who voiced concerns over the implications of this definition, is set to leave her role for the Solana Policy Institute, signaling a closure not just of the legal saga but also of her tenure with the association.

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