IRS and Treasury Enforce Tax Rules on DeFi Platforms, Raising Privacy Concerns
The US Treasury and IRS have introduced new tax rules targeting decentralized finance (DeFi) platforms. These regulations, which will go into effect on January 1, 2027, will require DeFi platforms that directly interact with users to follow strict reporting and identity verification procedures. Under the new guidelines, DeFi platforms are classified as brokers, just like…