IRS finalizes controversial tax reporting rule for brokers, punts decision on DeFi
Powered by @unfoldedThe Internal Revenue Service (IRS) has released the final version of its "broker rule" guidance for tax reporting requirements for cryptocurrency brokers.
The rule will apply to custodial brokers such as exchanges like Kraken and Coinbase.
However, the IRS has delayed making a final determination on whether non-custodial platforms, such as decentralized exchanges (DEXs), will be classified as brokers.
Crypto lobbyists had expressed concerns that the rule could harm the crypto industry, but the IRS has acknowledged the need for further consideration of issues involving non-custodial industry participants.
https://www.theblock.co/post/302679/irs-controversial-tax-reporting-rule-brokers-punts-defi