Author: Turner Wright, CoinTelegraph; compiled by: White Water, Golden Finance

Trump's artificial intelligence and cryptocurrency Tsar David Sacks said the White House will support Congress' efforts to abolish the IRS's decentralized finance (DeFi) broker rules.

In a March 4 X post, Sachs said it supports Texas Sen. Ted Cruz and Ohio Rep. Mike Carey, a regulatory rule that extends the definition of “broker” to include software providers that allow access to DeFi protocols under a resolution proposed by the Congressional Review Act. According to the AI ​​and cryptocurrency czar, if Congress sends joint resolution S.J. Res. 3 to the president’s desk, senior adviser to U.S. President Donald Trump will advise him to sign the resolution.

Office of the Office of Management and Budget claimed in a statement on March 4: “This rule was released as a midnight regulation in the last few days of the previous session, and it will kill U.S. innovation and raise privacy concerns about sharing taxpayer personal information while posing an unprecedented compliance burden for U.S. DeFi companies.”

A March 4 statement supported the revocation of the DeFi broker rules. Source: David Sacks

The rule, released by the IRS before Trump took office in December 2024, immediately sparked strong opposition from many in the cryptocurrency industry who claimed that it would move companies overseas or otherwise hinder innovation. However, the rule is planned to be implemented until 2027.

According to the IRS , DeFi platform may qualify as a broker and need to comply with additional reporting requirements if it participates in promoting the transaction or sale of digital assets and exerts sufficient control or influence on the transaction process. The agency estimates that the new rules could affect between 650 and 875 DeFi brokers who need to start collecting data in 2026.

The potential changes in the IRS are just one of many laws proposed by Republican-controlled Senate, House and Executive since taking office in January. Trump has signed several executive orders in favor of the industry and announced plans to hold a cryptocurrency summit at the White House on March 7.