On December 27, 2024, the U.S. Department of the Treasury published final rules for DeFi, regarding information reporting obligations for participants providing front-end services to interact with DeFi protocols. These participants will be recognized as "brokers" and will be required to report transaction data, similar to traditional brokers. The IRS claims that such services have access to transaction data and can easily meet the reporting requirements. This is the first step, and in the future, the IRS may expand the requirements to other categories of DeFi participants.
12/28/2024 10:58:49 AM (GMT+1)
The U.S. Department of the Treasury has published final rules on reporting for DeFi participants providing front-end services for trading digital assets, with reporting obligations starting in 2025 📊💻
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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