0xDeankim.eth retweetledi

Treasury/IRS has finalized their DeFi broker tax reporting rule. Trading front ends would have to track and report on user activity - both US persons and non-US persons- starting in 2027. And it applies to the sale of every single digital asset - including NFTs and even stablecoins (all cost no benefit from a revenue perspective).
First, a lawsuit will be filed claiming that the rule is beyond the authority of Treasury and violates the Administrative Procedure Act. Later, the rule will likely come under Congressional review where it can be disapproved of, like this year’s vote on SAB 121.
The outgoing administration is not leaving quietly. The fight continues.



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