President Donald Trump signed a joint congressional resolution on April 10th, effectively overturning an IRS reporting rule that required decentralized finance (DeFi) platforms to disclose their cryptocurrency sales data. This Biden-era regulation was aimed at increasing transparency in the DeFi sector by requiring exchanges and other platforms to provide information about their transactions to the IRS. The Trump administration’s action follows earlier statements from White House AI and crypto czar, David Sacks, who indicated support for repealing this rule. This move signals a shift in the administration’s approach to cryptocurrency regulation, aiming to simplify reporting burdens on DeFi platforms and potentially encourage innovation within the industry.