PANews reported on April 11 that U.S. President Trump has signed a joint resolution from Congress, officially repealing the IRS encryption tax rules enacted late in the Biden administration. The rules required "accomplice brokers" to collect and report user data to tax authorities. The bill was initiated by Senator Ted Cruz and Representative Mike Carey, with Carey stating that this is the first encryption-related legislation to be signed into law. The bill passed in both houses of Congress and received some support from Democrats. The DeFi Education Fund called this move a positive signal for the development of decentralization technology.
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Trump signs bill to repeal the encryption tax rules from the Biden administration.
PANews reported on April 11 that U.S. President Trump has signed a joint resolution from Congress, officially repealing the IRS encryption tax rules enacted late in the Biden administration. The rules required "accomplice brokers" to collect and report user data to tax authorities. The bill was initiated by Senator Ted Cruz and Representative Mike Carey, with Carey stating that this is the first encryption-related legislation to be signed into law. The bill passed in both houses of Congress and received some support from Democrats. The DeFi Education Fund called this move a positive signal for the development of decentralization technology.