Trump Administration Supports Repeal of IRS DeFi Reporting Rule
- President Trump’s crypto policy chief, David Sacks, endorsed legislation to prevent IRS reporting rules on DeFi projects.
- The rule expands the definition of “broker” to include most DeFi projects.
- The IRS regulation was introduced during the previous administration’s final days.
- Sacks argues the rule could stifle innovation and increase privacy concerns.
- Trump’s advisors would recommend signing the resolution if passed by Congress.
The Trump administration has officially backed a congressional resolution to repeal an IRS rule expanding broker definitions to include decentralized finance projects, as stated by David Sacks.
Source (2.6)https://decrypt.co/308605/trump-admin-supports-bill-repeating-irs-defi-rule?rand=52368
