New DeFi broker reporting regs are out. They are ass. Everything is pinned on "front end" providers for information reporting.
— Alex Golubitsky (@DumbApe69420) December 27, 2024
As much as I want to dig into these and start formulating strategies to deal with them, it seems really unlikely they will ever go into effect, givenβ¦
Lots of bitching about ruined holidays.
Does the IRS do anything but ruin people's holiday's (and every other day)? π
β Hermes Psychopomp, JD. (@Cypherpunk69) December 27, 2024
IRS TARGETS FRONT ENDS IN FINAL CRYPTO BROKER REPORTING REGS
β CryptoTaxGuy.ETH (@CryptoTaxGuyETH) December 27, 2024
Today, Treasury and the IRS issued "part 2" of the crypto broker reporting regs. Part 1 primarily addressed CEXes and other custodial actors and is summarized in the below-linked tweet. https://t.co/LIdSD0rWv7
1/12
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Cryptobros: HAHA BITCOIN AND ETH WILL GIVE US TAX FREE ALTERNATIVE CURRENCY
Cryptobros after being scammed literally every time: OH NOES WHY WONT THE GOVERNMENT SAVE ME FROM BEING SCAMMED OUT OF HUNDREDS OF THOUSANDS OF MY OWN DOLLARS!?!?
Cryptobros after the government starts prosecuting platforms for fraud: WHAT THE FRICK WHY DOES THE IRS WANT TO TAX MY COINS NOOOOOOO
Cryptobros will forever be the ecosytem consisting solely of the dumbest "tech" people on the planet.
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