Former President Donald Trump made a significant move by signing H.J.Res.25 into law, which effectively repealed the IRS's controversial DeFi reporting mandate. This action has been seen as a significant boost for crypto innovation and a strong stance against what some deem as excessive tax surveillance within the realm of decentralized finance.

The DeFi reporting mandate, which required crypto transactions over $10,000 to be reported to the IRS, was a hotly debated topic within the crypto community. Many argued that this rule not only infringed on financial privacy but also hindered the growth and adoption of decentralized finance technologies.

With Trump's signature on the legislation, the DeFi reporting mandate has been officially overturned. This move has been hailed as a game-changer for the crypto

Source: https://news.bitcoin.com/massive-win-for-crypto-trump-crushes-irs-rule-threatening-defi-survival/