BEAMSTART Logo

Treasury and IRS Finalize Broker Rule, Defers DeFi Decision

CoinGape LogoCoinGape2d ago

Treasury and IRS Finalize Broker Rule, Defers DeFi Decision - CoinGape

Quick Summary:

The US Department of the Treasury and the Internal Revenue Service (IRS) have released new tax guidelines for cryptocurrency brokers, which implements transaction reporting starting from 2025.

This new regime, however, has postponed decisions on DeFi activities and unhosted wallet providers, since the IRS is still reviewing the 44,000 comments made by the public.

The IRS has explained that most ordinary stablecoin transactions will not need to be reported, with certain exceptions for large transactions and those generating more than $10,000 in annual revenue.


More Pictures

Treasury and IRS Finalize Broker Rule, Defers DeFi Decision - CoinGape (Picture 1)

or

Article Details

Author / Journalist: Kelvin Munene Murithi

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-28 @ 22:59:06 (2 days ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 628 words

Reading Time: 4 minutes read

Sentences: 41 lines

Sentence Length: 16 words per sentence (average)

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

Copyright Owner: © CoinGape

News ID: 21412764

View Article Analysis

About CoinGape

CoinGape Logo

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 8 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 9 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #59

Publisher Details

Frequently Asked Questions

How long will it take to read this news story?

The story "Treasury and IRS Finalize Broker Rule, Defers DeFi Decision" has 628 words across 41 sentences, which will take approximately 3 - 6 minutes for the average person to read.

Which news outlet covered this story?

The story "Treasury and IRS Finalize Broker Rule, Defers DeFi Decision" was covered 2 days ago by CoinGape, a news publisher based in India.

How trustworthy is 'CoinGape' news outlet?

CoinGape is a fully independent (privately-owned) news outlet established in 2017 that covers mostly crypto news.

The outlet is headquartered in India and publishes an average of 8 news stories per day.

It's most recent story was published 9 hours ago.

What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
  • News ID: #21412764
  • URL: https://beamstart.com/news/treasury-and-irs-finalize-broker-17196161035236

BEAMSTART

BEAMSTART is a global entrepreneurship community, serving as a catalyst for innovation and collaboration. With a mission to empower entrepreneurs, we offer exclusive deals with savings totaling over $1,000,000, curated news, events, and a vast investor database. Through our portal, we aim to foster a supportive ecosystem where like-minded individuals can connect and create opportunities for growth and success.

© Copyright 2024 BEAMSTART. All Rights Reserved.