Trump Signs Bill Repealing IRS DeFi Tax Rule, Ethereum Price Anticipates 10% Gain

President Donald Trump has made a significant move in the world of cryptocurrency by signing a groundbreaking bill into law. This legislation repeals an IRS rule that would have required decentralized finance (DeFi) platforms to comply with traditional broker-level tax reporting. The bill, which received bipartisan support, eliminates a major obstacle that had threatened decentralized innovation across the U.S. The Ethereum ecosystem, which serves as the backbone of many DeFi protocols, is expected to benefit directly from this change. Industry leaders are hailing this as a turning point for crypto regulation, while Ethereum price watchers are anticipating potential long-term gains as regulatory uncertainties begin to dissipate.

Trump's action marks the first time a crypto-specific bill has been signed into U.S. law. The repealed rule, known as the "DeFi Broker Rule," was introduced during the Biden administration and aimed to impose tax reporting duties on decentralized platforms. This rule would have required DeFi projects to collect user data and transaction records, posing significant operational challenges for most decentralized protocols. Senator Ted Cruz spearheaded the effort in the Senate, and the bill passed with overwhelming bipartisan support, receiving 70 votes in favor and 28 against in the Senate, following House approval in March.

This legislative victory is more than just symbolic; it represents a significant policy shift. The U.S. is moving away from burdensome oversight and toward a more innovation-friendly approach to crypto regulation. For Ethereum, which underpins nearly all major DeFi platforms, this could mean long-term growth, greater development freedom, and renewed investor confidence. Analysts and traders are closely monitoring Ethereum price charts, as this law could serve as the catalyst the DeFi sector has been waiting for.

On April 10th, the trading day began with bearish momentum. The Relative Strength Index (RSI) remained in oversold territory, causing Ethereum (ETH) to dip and test support at $1583.34. At 12:45 UTC, a death cross on the Moving Average Convergence Divergence (MACD) confirmed the downtrend, pushing the price below this support level. By 15:45 UTC, the RSI again showed oversold signals, prompting a bounce from a new support level at $1471.54. Shortly after, a golden cross appeared, and ETH entered an upward channel. The recovery was gradual, supported by moderate trading volume through the evening.

On April 11th, the trading day started with bullish momentum. At 11:15 UTC, another golden cross on the MACD pushed the price higher, signaling continued strength. According to Ethereum price prediction models, if this bullish trend holds, ETH could reclaim $1583.34 as resistance or go above $1600. However, if the price fails to hold above $1471.54, it may open the door to sub-$1400 zones.

Trump's repeal of the IRS DeFi tax rule is more than just a political move; it is a green light for Ethereum and the broader DeFi market. The new law reduces regulatory pressure, allowing DeFi protocols to grow without the fear of impractical tax enforcement. As the backbone of DeFi, Ethereum stands to benefit the most. This regulatory shift may renew investor confidence and long-term growth in the ecosystem. According to Ethereum price prediction models, ETH could reclaim $1600 soon, and if momentum continues, target $1750 next. However, a failure to hold above $1470 may signal short-term weakness.