TechFlow, April 11 — On April 10, 2025, U.S. President Trump signed into law a bill introduced by Representative Mike Carey (R-Ohio) to formally repeal the IRS's digital asset sales and transaction rule, also known as the "DeFi Broker Rule." The rule previously required self-hosted digital asset wallet providers to submit information reports to the IRS and had been criticized for hindering innovation in the United States and infringing on citizens' privacy.
This marks the first cryptocurrency bill in U.S. history to be signed into law and the first tax-related rule ever repealed through the Congressional Review Act (CRA) process. The new law will prohibit future administrations from enacting similar rules without new legislation, providing long-term protection for cryptocurrency wallets.
