The United States President Donald Trump has recently signed an important crypto-related bill, by which the disputed “Defi Broker Rule” has ended. This step can prove to be an important milestone for the US Crypto industry, as it will provide relief from the Complex Tax Reporting Rules to the American Defi companies. This decision is considered a positive signal for American Digital Asset Arena. Please tell that Trump before this Order to create US strategic bitcoin keep Have also given.
Defi Broker Rules: A controversial proposal
In 2023, the Defi broker rule brought by Joe Biden Administration became the subject of controversy in the digital asset industry. Under this rule, decentralized finance platforms would need to report information of taxation like traditional financial brokers. Its objective was to stop tax evasion and financial fraud, but at the same time there was a danger of rules burden on American Defi companies. In addition, IRS required a lot of resources to implement this rule, which was difficult to its current structure.
Trump’s step: Protection of privacy and innovation
With Trump’s consent to this bill, it is clear that the US has now adopted a prudent and futuristic policy for digital assets. The Crypto industry took the move positively and considered it a historic event. This will provide more innovative freedom to American companies and will be a privacy protection of users, which is a very important for them.
Industry reaction
The Crypto industry is considering this bill as important. Amanda Tuminelli, executive director of Defi Training Charity, has called it a milestone in the history of digital asset rules. According to him, this law is a new approach symbol for digital assets, different from traditional financial rules. Which will make the American crypto industry independent and creative.
At the same time, due to the increasing influence of globally Defi, governments of various countries are working on the need of the law related to it. According to the information, recently the Finance Ministry of the Government of India also discussed the impact of Defi. Which describes how Defi can change global economy.
Conclusion
The consent of this bill by Donald Trump has led to an import change, which will promote the American Crypto industry. The move not only open the paths of possibilities for crypto companies, but it will make American tax rules easier and will also help in protecting privacy. This step is a positive signal for the American Digital Asset Industry, which is now more stable and innovation in the futureAnd can develop in a manner.
