Trump is expected to sign

PANews reported on March 27 that according to The Block, the US Senate passed a resolution by 70 to 28, repealing the crypto tax regulations issued by the Biden administration at the end of the period, and the bill will be submitted to President Trump for signature. The IRS DeFi broker rules require some DeFi platforms to report user trading information as securities brokers and issue 1099 forms, causing privacy and compliance disputes. White House crypto adviser David Sacks said senior presidential adviser would recommend signing the bill, a move that would be the first crypto legislation signed during Trump's tenure. The DeFi industry welcomed the move, saying it would help protect innovation and technological development.