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President Trump has made history by signing the first-ever cryptocurrency-related bill into law, effectively repealing the Internal Revenue Service’s (IRS) controversial Decentralized Finance (DeFi) Crypto Broker Rule. This landmark move is a significant victory for the cryptocurrency industry and marks a step in the right direction towards more innovation-friendly regulation.
The IRS DeFi Crypto Broker Rule had been widely criticized by both sides of the political spectrum, with many arguing that it unfairly targeted decentralized finance platforms and stifled innovation. The repeal of this rule is seen as a major win for the crypto community, allowing the industry to continue growing and expanding without unnecessary regulatory hurdles.
It’s worth noting that the White House has not officially commented on the signing of the bill into law, but sources close to the administration have confirmed the move.
Source: https://coinpedia.org/crypto-live-news/trump-signs-first-ever-crypto-law-striking-down-irs-defi-rule/
