Repeals a looming massive invasion of privacy by the IRS, related to noncustodial services.

“a regulation requiring all cryptocurrency exchanges – custodial and non-custodial, fiat to crypto and crypto to crypto – to effectively subject their users to Know-Your-Customer (KYC) measures. The rule establishes that custody over funds is not necessary to be deemed a broker by the IRS, obliging ‘DeFi front-end services’ to report trading activity via the 1099 tax form to the agency.”

https://bitcoinmagazine.com/legal/the-current-state-of-the-irs-broker-rule