On April 10, 2025, President Donald Trump signed H.J. Res. 25 into law, officially repealing the Internal Revenue Service’s (IRS) DeFi Broker Rule. This rule, finalized in December 2024 under the Biden administration, aimed to classify decentralized finance (DeFi) platforms as brokers, requiring them to report user transactions to the IRS similarly to traditional financial institutions. The repeal was carried out using the Congressional Review Act (CRA). It passed both chambers with strong bipartisan support—292–132 in the House and 70–28 in the Senate. TRUMP JUST FLIPPED THE SCRIPT ON CRYPTO By repealing the “DeFi Broker Rule,” Trump just opened the door for real utility tokens like $XRP to breathe. No more handcuffs. Regulations are shaking, XRP is rising. pic.twitter.com/EHpTBqANr6 — John Squire (@TheCryptoSquire) April 11, 2025 Industry and Political Response The crypto industry and several lawmakers strongly opposed the IRS rule. Many argued that DeFi platforms lack access to user data and cannot comply with the same tax reporting requirements as centralized exchanges. Senator Ted Cruz, who introduced the CRA resolution to repeal the regulation, described it as “an unworkable disaster” and warned it could force innovation out of the U.S. This concern resonated with the XRP community, particularly given Ripple’s prolonged legal battle with the SEC. In early April, Cruz shared a clip from an interview in which he celebrated the astounding support his resolution received. Now, Donald Trump has signed it into law, marking the first-ever bill regarding cryptocurrencies signed into law in the U.S. In the tweet, John Squire (@TheCryptoSquire) stated that Trump has opened the door for real utility tokens like XRP to breathe. White House AI and Crypto Czar David Sacks also weighed in, referring to the IRS rule as an “11th-hour attack” on the crypto industry by the Biden administration. He shared his excitement after Trump signed the bill into law. Implications for the Crypto Industry With this repeal, DeFi platforms are no longer required to report user transaction data to the IRS. Industry advocates see this as a win for innovation and privacy. The removal of compliance burdens may also foster growth in blockchain-based services that were previously concerned about regulatory overreach. Through services like the Automated Market Maker (AMM) and Real-world Asset (RWA) tokenization, Ripple is boosting the DeFi appeal of XRP and the XRP Ledger (XRPL). This new law and the regulatory shift under Trump have cleared the way for increased adoption. The move has been welcomed by DeFi developers and the broader crypto community. By removing what many considered an unworkable rule, the administration has further cemented its pro-crypto stance. The regulatory landscape in the U.S. is changing. The SEC has dropped its lawsuit against Ripple and other major crypto firms like Coinbase and Gemini, so the crypto space can innovate and make progress freely. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. The post Trump Just Opened the Door for Real Utility Tokens Like XRP to Breathe appeared first on Times Tabloid .
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