US President Donald Trump signed a Congressional resolution on April 10 to repeal a Biden-era rule that mandated decentralized finance (DeFi) protocols to report transaction details to the Internal Revenue Service (IRS). The now-repealed rule required platforms like decentralized exchanges to file information on gross proceeds from crypto sales and details of individuals involved in the transactions. This repeal aligns with the administration's stance on reducing regulatory burdens on the crypto industry, as stated by White House AI and crypto advisor David Sacks, who indicated that the president was expected to support this movement. This development reflects ongoing shifts in regulatory approaches to DeFi and its implications for taxation and compliance in the crypto sector.

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