Trump Reverses Biden's Crypto Tax Rule
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President Trump signed his first crypto-related bill into law, repealing a Biden-era IRS rule requiring decentralized finance (DeFi) platforms to report taxpayer information. The rule, deemed overly burdensome and privacy-invasive by industry leaders and lawmakers, was considered a hindrance to American innovation. The bipartisan support for its repeal highlights a rebuke of Biden's policies. Crypto leaders celebrate this as a major milestone for the industry's future in the U.S.
President Trump signed his first crypto-related bill into law, repealing a Biden-era IRS rule requiring decentralized finance (DeFi) platforms to report taxpayer information. The rule, deemed overly burdensome and privacy-invasive by industry leaders and lawmakers, was considered a hindrance to American innovation. The bipartisan support for its repeal highlights a rebuke of Biden's policies. Crypto leaders celebrate this as a major milestone for the industry's future in the U.S.
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