TechFlow reports, on March 4, David Sacks, the White House's AI and cryptocurrency lead, announced that the administration will support the Congressional Review Act (CRA) resolution introduced by Senator Ted Cruz and Representative Mike Carey to overturn the "DeFi broker rule" established during the final days of the Biden administration.
A policy statement released by the White House Office of Management and Budget (OMB) indicated that the rule expands the definition of "broker" to include DeFi protocol software, requiring reporting of total proceeds from cryptocurrency transactions and taxpayer information. The new administration argues this rule would “stifle American innovation, raise privacy concerns, and impose unprecedented compliance burdens on DeFi businesses.”
The policy statement explicitly stated that if the resolution is presented to the President, senior White House advisers will recommend signing it into law—marking a significant shift in the government’s stance on crypto regulation.
