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House Votes to Repeal Controversial Crypto Broker Tax Rule

The U.S. House has voted to repeal an IRS tax rule that had been a headache for the crypto industry.
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Mar 12, 2025 • 1 min read

In a significant development for the crypto industry, the House has voted to repeal a contentious IRS tax rule affecting DeFi brokers, waiting for Senate approval before reaching President Trump's desk.

What’s the Scoop?

  • Bipartisan Approval: The House passed the repeal bill in a strong bipartisan fashion, signaling widespread support for the rollback.
  • Path to Trump's Desk: While the House has passed the bill, it must still clear the Senate before reaching President Trump, who is expected to sign it into law.
  • Administration's Stance: White House Crypto Czar David Sacks states that Trump's senior advisors plan to recommend signing the repeal into law, aligning with the administration's crypto-friendly stance.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

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