{"id":37795,"date":"2025-03-04T21:00:56","date_gmt":"2025-03-04T18:00:56","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=37795"},"modified":"2025-03-04T19:39:04","modified_gmt":"2025-03-04T16:39:04","slug":"white-house-will-support-rescinding-defi-broker-rule","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/white-house-will-support-rescinding-defi-broker-rule\/","title":{"rendered":"White House Will Support Rescinding DeFi Broker Rule!"},"content":{"rendered":"<p data-start=\"1848\" data-end=\"2080\">The <strong data-start=\"1852\" data-end=\"1876\">Trump administration<\/strong> has announced its support for <strong data-start=\"1907\" data-end=\"1945\">repealing the IRS DeFi broker rule<\/strong>, which is set to take effect in <strong data-start=\"1978\" data-end=\"1986\">2027<\/strong>. If approved by <strong data-start=\"2003\" data-end=\"2015\">Congress<\/strong>, <strong data-start=\"2017\" data-end=\"2033\">Donald Trump<\/strong> is expected to sign the resolution into law.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/white-house-will-support-rescinding-defi-broker-rule\/#White_House_Signals_Support_for_DeFi_Industry\" title=\"White House Signals Support for DeFi Industry!\">White House Signals Support for DeFi Industry!<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/white-house-will-support-rescinding-defi-broker-rule\/#Why_Is_the_DeFi_Broker_Rule_Controversial\" title=\"Why Is the DeFi Broker Rule Controversial?\">Why Is the DeFi Broker Rule Controversial?<\/a><\/li><\/ul><\/nav><\/div>\n<h2 data-start=\"2082\" data-end=\"2138\"><span class=\"ez-toc-section\" id=\"White_House_Signals_Support_for_DeFi_Industry\"><\/span>White House Signals Support for DeFi Industry!<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"2139\" data-end=\"2388\"><strong data-start=\"2139\" data-end=\"2154\">David Sacks<\/strong>, the <strong data-start=\"2160\" data-end=\"2182\">AI and crypto czar<\/strong> in the Trump administration, stated on <strong data-start=\"2222\" data-end=\"2233\">March 4<\/strong> that the White House backs legislative efforts to <strong data-start=\"2284\" data-end=\"2385\">overturn the IRS regulation expanding the definition of &#8220;broker&#8221; to include DeFi access providers<\/strong>.<\/p>\n<hr \/>\n<p data-start=\"2390\" data-end=\"2621\"><strong><em>You Might Be Interested In: <a href=\"https:\/\/coinengineer.net\/blog\/elon-musk-talks-about-the-name-of-a-new-memecoin\/\">Elon Musk Talks About the Name of a New Memecoin!<\/a><\/em><\/strong><\/p>\n<hr \/>\n<p data-start=\"2390\" data-end=\"2621\">Sacks confirmed via <strong data-start=\"2410\" data-end=\"2434\">X (formerly Twitter)<\/strong> that the administration supports a resolution introduced by <strong data-start=\"2495\" data-end=\"2521\">Texas Senator Ted Cruz<\/strong> and <strong data-start=\"2526\" data-end=\"2560\">Ohio Representative Mike Carey<\/strong> under the <strong data-start=\"2571\" data-end=\"2599\">Congressional Review Act<\/strong> to repeal the rule.<\/p>\n<p data-start=\"2623\" data-end=\"2747\">Senior White House advisers have reportedly <strong data-start=\"2667\" data-end=\"2744\">recommended that Trump sign the resolution into law if passed by Congress<\/strong>.<\/p>\n<p data-start=\"2623\" data-end=\"2747\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-03\/019561ef-bdfc-7330-9e16-476a400ac790\" alt=\"defi\" width=\"792\" height=\"1084\" \/><\/p>\n<h2 data-start=\"2749\" data-end=\"2801\"><span class=\"ez-toc-section\" id=\"Why_Is_the_DeFi_Broker_Rule_Controversial\"><\/span>Why Is the DeFi Broker Rule Controversial?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"2802\" data-end=\"2961\">The <strong data-start=\"2806\" data-end=\"2818\">IRS rule<\/strong> aims to classify <strong data-start=\"2836\" data-end=\"2903\">software providers enabling access to DeFi protocols as brokers<\/strong>, thereby imposing strict reporting obligations on them.<\/p>\n<p data-start=\"2963\" data-end=\"3184\">The crypto community argues that such regulations <strong data-start=\"3013\" data-end=\"3087\">could stifle innovation and undermine the decentralized nature of DeFi<\/strong>. White House support for rescinding the rule <strong data-start=\"3133\" data-end=\"3181\">sends a positive signal to the DeFi industry<\/strong>.<\/p>\n<hr \/>\n<p data-start=\"2963\" data-end=\"3184\"><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"nofollow noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Trump administration has announced its support for repealing the IRS DeFi broker rule, which is set to take effect in 2027. If approved by Congress, Donald Trump is expected to sign the resolution into law. White House Signals Support for DeFi Industry! David Sacks, the AI and crypto czar in the Trump administration, stated<\/p>\n","protected":false},"author":28,"featured_media":32112,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,2],"tags":[61,12423,60,11981,2204,58,96,93,1730,105,9342,6652,2231,12422,1615,6183,6017],"class_list":["post-37795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-news","tag-bitcoin","tag-broker-rule","tag-btc","tag-congress","tag-crypto-law","tag-cryptocurrency","tag-decentralized-finance","tag-defi","tag-donald-trump","tag-ethereum","tag-financial-regulation","tag-irs","tag-market-analysis","tag-tax-regulation","tag-technical-analysis","tag-us-senate","tag-white-house"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>White House Will Support Rescinding DeFi Broker Rule! - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/white-house-will-support-rescinding-defi-broker-rule\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"White House Will Support Rescinding DeFi Broker Rule! - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"The Trump administration has announced its support for repealing the IRS DeFi broker rule, which is set to take effect in 2027. 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