Trump Expected to Sign Joint Congressional Resolution to Overturn IRS Crypto Tax Rules
Former Fox reporter Eleanor Terrett has posted on Platform X that US President Donald Trump is expected to sign a joint resolution passed by Congress in the near future that would formally overturn the Internal Revenue Service's (IRS) tax filing rules for decentralised financial (DeFi) platforms, according to two people familiar with the matter. The resolution was spearheaded by Senator Ted Cruz (R-TX), who may himself be present at the signing ceremony. The resolution, which seeks to exempt DeFi agreements from IRS tax filing requirements for cryptocurrency brokers, passed the Senate a fortnight ago by an overwhelming majority. If Trump's signing is completed, it will be the first cryptocurrency-related bill in U.S. history to be signed into law by a president.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Over the past 48 hours, whales have accumulated over 20,000 BTC
Analyst: Estimated Overall Leverage Ratio on Trading Platforms Hits a Two-Year High
The probability of a 25 basis point rate cut by the Federal Reserve in May is 10.4%
ZKsync Founder: Ethereum's Shift to RISC-V Will Enhance Its World Computer Status
Trending news
MoreCrypto prices
More








