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