IRS Targets DeFi: New Crypto Tax Rules to Shake Decentralized Platforms by 2027

Quick Summary:

Starting in 2027, DeFi platforms will have to collect user trading information, issue tax forms, and provide customer details like names and addresses.

Internal Revenue Service (IRS) has introduced a new tax rule that will affect decentralized finance (DeFi) brokers.

This rule is meant to make digital asset taxes similar to traditional ones.

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Article Details

Author / Journalist: Qadir AK

Category: Crypto

Markets: United States

Topics: News DeFi Crypto Regulations

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-28 @ 05:55:13 (23 hours ago)

News Timezone: GMT +8:00

News Source URL: coinpedia.org

Language: English

Article Length: 491 words

Reading Time: 3 minutes read

Sentences: 27 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coinpedia

News ID: 24708775

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Main Topics: Crypto

Official Website: coinpedia.org

Update Frequency: 14 posts per day

Year Established: 2016

Headquarters: United States

News Last Updated: 14 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

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