IRS Sparks Backlash With New DeFi Reporting Regulations
21 hours ago · Three prominent pro-crypto groups — the Blockchain Association, DeFi Education Fund, and the Texas Blockchain Council — have initiated legal action against the US Internal Revenue Service (IRS). The lawsuit challenges the IRS and Treasury Department’s recent decision to categorize decentralized finance (DeFi) platforms as brokers, a ruling that has sparked significant controversy within ...
IRS Targets Front-End Services In DeFi Reporting Final …
1 day ago · The IRS indicates that these trading front-end services permit a customer to select, confirm, and communicate the details of a trade transaction it wants to execute on a DeFi protocol so that it ...
U.S. Department of the Treasury Releases Final Regulations …
1 day ago · Regulations help make filing easier for digital asset holders on taxes already owed WASHINGTON – As part of the Biden-Harris Administration’s implementation of the bipartisan Infrastructure Investment and Jobs Act (IIJA), the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) today released final regulations regarding reporting requirements for trading front ...
KYC and IRS tax reporting are coming to DeFi platforms - Forbes
1 day ago · The Three Layers of the DeFi Stack. The IRS has identified three distinct layers within the DeFi ecosystem. Interface Layer: This includes the user-facing components, such as screens, buttons ...
DeFi has 3 options if IRS rule isn't rolled back — Alex Thorn
10 hours ago · IRS DeFi broker rules, and more: Hodler’s Digest, Dec. 22 – 28 El Salvador's Bitcoin stash hits 6,000 BTC, worth $569M MEGA ‘25: How Donald Trump can Make Ethereum Great Again in 2025
IRS Publishes New Crypto Tax Guidelines Focusing on DeFi Servicecs
1 day ago · The IRS issued new crypto tax guidelines, requiring DeFi brokers to report detailed customer and transaction data. These rules apply to front-end DeFi services interacting with users, but exempt the underlying protocols themselves. New reporting requirements focus on Form 1099-DA, with implementation set for 2027, giving DeFi firms time to adapt.
IRS issues rules on digital asset reporting, says front
1 day ago · IRS DeFi broker rules, and more: Hodler’s Digest, Dec. 22 – 28 El Salvador's Bitcoin stash hits 6,000 BTC, worth $569M MEGA ‘25: How Donald Trump can Make Ethereum Great Again in 2025
Industry groups sue to stop IRS from collecting user info from DeFi ...
13 hours ago · The rule could affect "approximately 650 to 875 DeFi brokers, with a mid-point of approximately 765 DeFi brokers," according to the IRS' own estimate, along with a rough estimate of around 2 million U.S. taxpayers. Disclaimer: The Block is an independent media outlet that delivers news, research, and data.
IRS targets DeFi brokers with new tax reporting rules set for 2027
1 day ago · The IRS is going after decentralized finance (DeFi) brokers with a vendetta. If left, starting in 2027, these brokers will be required to report every dime made in crypto sales. The new rules fall under section 6045 of the Internal Revenue Code and are part of this big push to extend traditional tax regulations to the crypto industry.
US IRS finalizes controversial tax rule requiring 'DeFi brokers' to ...
1 day ago · The Daily: IRS finalizes tax rule requiring 'DeFi brokers' to collect user trading information, Do Kwon's US extradition and more. Dec 27, 2024, ... Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. ...
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