Trump and Congress Nullify IRS Reporting Rule for Digital Assets
By EsqSocial Corporation 06/05/25
The federal rule that would have required crypto platforms to report users’ transactions to the IRS has officially been scrapped. President Trump signed a joint congressional resolution overturning the so-called DeFi Broker rule. Originally finalized by the Treasury Department in December 2024, the rule would have required platforms that facilitate digital asset transactions — including decentralized finance (DeFi) services — to report user activity on IRS Form 1099. It was scheduled to take...
By: Fox Rothschild LLP