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US President Donald Trump on Thursday signed into law a bill to overturn a revised rule from the Internal Revenue Service that expanded the definition of a broker to include decentralized cryptocurrency exchanges, according to a statement from the White House.
In the last weeks of the Biden administration in December, the IRS updated its crypto tax reporting rule that it had finalized earlier in 2024 to clarify that its new guidelines would also apply to decentralized finance – or DeFi – exchanges.
Both the House of Representatives and the Senate in…
