The White House, under the leadership of former President Donald Trump, has expressed support for a bill introduced by Senator Ted Cruz and Representative Mike Carey to roll back the DeFi Broker law passed by the previous Biden administration. The bill aims to challenge the Internal Revenue Service's Digital Assets Sale and Exchanges Rule, which is seen as overreach and potentially detrimental to innovation and investment in the crypto industry. Industry groups such as the Blockchain Association and the Texas Blockchain Council have already challenged the IRS in court. Trump's AI and Crypto Czar, David Sacks, shared the White House's support for the bill on Twitter. The statement suggests that rolling back the rule will prioritize American citizens and attract innovation to the country. Since taking office, Trump has made several moves related to the crypto industry, including creating a working group to evaluate regulations and revoking President Biden's executive order on crypto.



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