PANews reported on March 27 that according to The Block, the U.S. Senate passed a resolution by 70 votes to 28 to repeal the crypto tax regulations issued at the end of the Biden administration, and the bill will be submitted to President Trump for signature. The IRS DeFi broker rule requires some DeFi platforms to report user transaction information and issue 1099 forms as securities brokers, sparking privacy and compliance disputes. White House crypto adviser David Sacks said that the president's senior advisers will recommend signing the bill, which will become the first crypto legislation signed by Trump during his tenure. The DeFi industry welcomed the move, saying it would help protect innovation and technological development.