A historical moment for the Crypto industry: For the first time, a US President signed a crypto law. Donald Trump wrote history by signing a law that finally abolish a controversial tax rule. With his signature, he would have a regulation that would have obliged decentralized financial platforms – better known as Defi – to collect user data and report them to the tax authorities.
Trump strokes controversial crypto sir
The so-called “defi broker rule” was proposed in 2023 by the tax authority IRS-as part of the implementation of previously passed laws.
Defi platforms would have obliged the rule that should only come into force in 2027 to transmit proceeds from crypto purchases and personal data to the tax authorities.
Critics warned early on that this rule could practically be implemented and that a significant threat to innovation and data protection would be in the crypto industry.
The abolition of the rule received remarkably broad support in the congress. Both the Senate and the House of Representatives voted for the resolution that lifted the regulation – among other things by using the “Congressional Review Act”.
The Republican Mike Carey, who brought the initiative, emphasized that the tax authority should focus better on existing obligations instead of burdening defi initiatives with unfulfilled reporting obligations.
🚨 History Made 🚨
Just now, @Potus Signed My Bill to Repeal to the Irs Defi Crypto Broker Rule.
This is the first cryptocurrency Bill Ever Signed Into Law by a President.@Housegop is working to keep America as the crypto capital of the world!
– Congressman Mike Carey (@Repmikecarey) April 10, 2025
Since the introduction of the rule, there have been loud protest from the industry. Organizations such as the Defi Education Fund and the Blockchain Association warned that the rule could mean the end of the crypto location USA.
“It was a slanter against the engine of American innovation,” said Kristin Smith from the Blockchain Association.
A new course for crypto in the USA
Trump’s signature is a clear signal that the United States will take a crypto -friendly course under its leadership.
The Defi sector is particularly active in the Ethereum network, but is also growing steadily on other networks such as Bitcoin.
According to political observers, the success of this first Pro crypto law opens the door for further reforms. In the congress, laws on stable coins, clearer market rules for digital assets and a national Bitcoin-Areserve worked.
Trump has announced that he was expecting a law on stable coins on his desk before August.