11-4-2025 – The Trump administration has dismantled key cryptocurrency reporting requirements, marking a stark departure from previous regulatory frameworks. The presidential signature, affixed on 10 April, nullified stringent oversight measures that had required decentralised finance protocols to maintain detailed transaction records for tax purposes.
The landmark decision sweeps aside regulations that had compelled DeFi platforms to furnish the Internal Revenue Service with comprehensive documentation of their cryptocurrency dealings, including participant identification and transaction volumes.
This legislative about-face hardly came as a surprise to industry watchers, following March’s Telegraph interview with David Sacks, the White House’s artificial intelligence and cryptocurrency chief. Sacks had previously telegraphed the administration’s intentions to ease the regulatory burden on decentralised finance operators.
The move signals a fundamental shift in Washington’s approach to digital asset oversight, potentially heralding a new era of reduced bureaucratic constraints for DeFi innovators. Market analysts suggest this regulatory loosening could reshape the landscape of decentralised finance, though the full ramifications of this policy pivot remain to be seen.
Whilst the cryptocurrency sector has welcomed this development, questions linger about the long-term implications for financial transparency and market oversight in the rapidly evolving digital asset space.
