With a signature of President Donald Trump, the decentralized economic (defi) corner of the crypto sector is now released from US internal income service requires platforms to be treated as brokers and required to track and report user activity.

The narrow -focused IRS rule, which was approved in the last days of former President Joe Bid’s administration, has been formally knocked down, according to representative Mike Carey, an Ohio Republican who supported the effort. And the agency is prevented from pursuing something similar, according to the Congressional Review Act Power used by legislators to get rid of tax regulation.

Although the question was relatively limited, its completion first marks that a pro-crrypto effort has cleared the US Congress.

Both the representatives’ Senate and House agreed to reverse the IRS action with strong Bipartisan show, which further emphasized the strength of the crypto sector at this congress. It could well be for the industry’s chances with other more far-reaching issues, including legislation for regulating stableco-issuers and for establishing market rules for crypto transactions.

Trump’s signature on the Defi Tax Solution puts this concern about defi in the back view. The next crypto priority in Congress has been stableecoin legislation. Similar bills have adopted relevant committees in both parliament and the Senate and are awaiting floor voices in each chamber. Approvals would start a process to melt the two efforts on a compromise version.

The president has called for a bill to arrive at his desk in August, and the legislators behind the legislation have said such a timeline is still possible.