Biden Admin Finalizes Regulations Granting IRS Full Oversight Over Crypto Transactions

January 02, 2025 at 07:05 AM EST

The IRS and the U.S. Treasury Department have completed a comprehensive set of regulations targeting brokers involved in virtual asset transactions.

The new rules, set to appear in the Federal Register on December 30, impose significant reporting obligations on brokers, including some decentralized finance (DeFi) platforms. Brokers are required by the legislation to keep an eye on and report user activity, including transactions involving assets such as…

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