Trump Signs DeFi Tax Relief Bill, Boosting Crypto Momentum in Congress

In a landmark win for the crypto industry, President Donald Trump has signed legislation overturning an IRS rule that treated decentralized finance (DeFi) platforms as brokers. The now-defunct rule, introduced during the final days of the Biden administration, would have required DeFi platforms to track and report user transactions—placing a heavy regulatory burden on the sector.

Backed by Representative Mike Carey (R-Ohio), the repeal passed with strong bipartisan support in both the House and Senate. Utilizing the Congressional Review Act, lawmakers not only eliminated the rule but also barred the IRS from introducing similar regulations in the future.

Though narrowly focused, this marks the first pro-crypto initiative to successfully pass through the U.S. Congress. The development signals growing legislative support for blockchain innovation and could pave the way for broader regulatory efforts.

With DeFi tax concerns now resolved, lawmakers are shifting focus to stablecoin legislation. Bills aimed at regulating stablecoin issuers have already advanced through key committees in both chambers and await floor votes. Should both versions pass, Congress would begin negotiations to merge them into a single comprehensive law.

President Trump has urged Congress to deliver the finalized stablecoin bill to his desk by August. Lawmakers behind the initiative remain optimistic about meeting the deadline, which could mark another pivotal moment for U.S. crypto regulation.

This legislative momentum suggests a favorable environment for future crypto-related policies and positions the United States as a potential leader in blockchain regulation. The crypto industry now watches closely as Congress moves toward setting long-awaited market rules and regulatory clarity for digital assets.