IRS DeFi broker rule rescinded under H.J.Res 25 event

Event · PageRank 0.0008

Also known as: SOIR DeFi rule rescission

Overview

On 10 April 2025, President Donald Trump signed H.J. Res. 25 into law, using the Congressional Review Act to nullify the IRS regulation (T.D. 10021) that would have treated DeFi front-end service providers as brokers for tax reporting purposes. The rule, finalised in the closing days of the Biden administration, would have required DeFi platforms to report gross proceeds and collect taxpayer identity information beginning in 2027. Because the repeal was enacted under the CRA, the IRS cannot reissue a substantially similar rule without new legislation from Congress. Other digital asset broker reporting rules for centralised intermediaries remain in force.

Within the DeFi Intel graph, IRS DeFi broker rule rescinded under H.J.Res 25 connects to 1 tracked entity, most strongly to DeFi Education Fund.

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Frequently asked questions

What exactly was repealed?

The IRS final regulation (T.D. 10021) that classified DeFi front-end service providers as brokers subject to digital asset transaction reporting.

How was it repealed?

Congress passed H.J. Res. 25 under the Congressional Review Act, which requires only simple majorities in both chambers, and President Trump signed it on 10 April 2025.

Does this end all crypto tax reporting?

No. The repeal applies to the DeFi broker rule only; separate regulations still require custodial digital asset brokers to file Form 1099-DA.