The U.S. Treasury Department has officially repealed the cryptocurrency broker reporting rules that required non-custodial service providers, including decentralized finance (DeFi) platforms, to report customer transaction information to the Internal Revenue Service (IRS). This rule, known as Form 1099-DA, was designed to enhance tax compliance by mandating crypto brokers to disclose users’ digital asset transactions. The repeal was enacted through the Congressional Review Act following advocacy from crypto industry groups such as Coin Center. While the removal of these requirements has been welcomed by many in the crypto community as a positive development, concerns have been raised about potential tax evasion risks and gaps in knowledge regarding crypto addresses on exchanges. The change reflects a shift in regulatory approach toward digital assets in the United States.