Late last year, the IRS issued a rule that would have required people and platforms involved in decentralized finance (DeFi) — crypto transactions that happen directly between users through software, without a bank or broker in the middle — to report sale details to the IRS, similar to how stockbrokers report your trades. This resolution cancels that rule, meaning those DeFi-related reporting requirements won't take effect. If passed, people using DeFi platforms to buy or sell digital assets wouldn't have those transactions reported to the IRS under this particular rule, though other existing tax obligations on crypto gains would remain unaffected.