Golden Finance reported that former Fox reporter Eleanor Terrett posted on the X platform that, according to two insiders, U.S. President Trump is expected to soon sign the joint resolution passed by Congress, officially overturning the IRS's tax reporting regulations for Decentralized Finance (DeFi) platforms. The resolution was led by Senator Ted Cruz, who may attend the signing ceremony.
This resolution aims to exempt DeFi protocols from complying with the IRS tax reporting requirements for cryptocurrency brokers, and it was passed in the Senate two weeks ago by an overwhelming majority. If signed by Trump, this will become the first cryptocurrency-related legislation in U.S. history to be enacted by a presidential signature.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Trump is expected to sign a bipartisan congressional resolution to overturn the IRS encryption tax rules.
Golden Finance reported that former Fox reporter Eleanor Terrett posted on the X platform that, according to two insiders, U.S. President Trump is expected to soon sign the joint resolution passed by Congress, officially overturning the IRS's tax reporting regulations for Decentralized Finance (DeFi) platforms. The resolution was led by Senator Ted Cruz, who may attend the signing ceremony. This resolution aims to exempt DeFi protocols from complying with the IRS tax reporting requirements for cryptocurrency brokers, and it was passed in the Senate two weeks ago by an overwhelming majority. If signed by Trump, this will become the first cryptocurrency-related legislation in U.S. history to be enacted by a presidential signature.