IRS Announces New Tax Reporting Rule for Brokers But Postpones DeFi Ruling

Friday, 28 June 2024, 22:04
The IRS has recently finalized a controversial tax reporting rule affecting brokers while delaying a decision on decentralized finance (DeFi). The rule requires brokers to report cryptocurrency transactions over $10,000 to the agency. However, the uncertainty surrounding DeFi taxation remains as the IRS seeks further input from stakeholders. This development highlights the evolving regulatory landscape for digital assets and the importance of compliance in the crypto industry.
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IRS Announces New Tax Reporting Rule for Brokers But Postpones DeFi Ruling

IRS Finalizes Tax Reporting Rule

The IRS has issued a new tax reporting rule for brokers, obligating them to report crypto transactions over $10,000.

DeFi Decision Postponed

The IRS has delayed a decision on decentralized finance, seeking more input from stakeholders.

Conclusion: The regulatory updates emphasize the need for compliance and clarity in the cryptocurrency space.

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