jakiro
The U.S. Revenue Service (IRS) recently proposed a compliance requirement: brokers must report transactions on digital assets and extend the scope of this requirement to various front-end platforms (referring to Dex).
However, this requirement will not be implemented in 2027. By then, profits will be made through Dex transactions throughout 2026 and taxes will be filed~
Everyone in the circle knows that this document is targeting Defi (decentralized finance)
At present, going to Defi is the last pure land that is completely free from government supervision.
The IRS file mentions Defi many times, such as:
“The Treasury Department and the IRS do not agree that these final regulations reflect a bias against the DeFi industry or that these regulations will discourage the adoption of this technology by law-abiding customers.”
The Treasury and the IRS do not believe that these final regulations reflect bias against the DeFi industry, nor do they think that they will prevent law-abiding customers from adopting the technology.
“Information reporting by DeFi brokers under section 6045 will lead to higher levels of taxpayer compliance because the income earned by taxpayers engaging digital assets transactions without a custodial broker will be made more transparent to both the IRS and taxpayers.”
DeFi brokers conduct information reporting under Section 6045 will improve taxpayer compliance, as income from taxpayers that conduct digital asset exchanges without custodial brokers will be more transparent to both the IRS and taxpayers.
But don’t panic. First of all, the scope of this influence is tax residents in the United States, and non-Americans will not be affected at all.
Secondly, Trump has promised to exempt cryptocurrency from capital gains tax (see for details except these two, Trump’s other commitments to encryption have been fulfilled!).
Fire SEC Commissioner Gary Gensler.
Dismissed the current SEC chairman on the first day of taking office
Introduction a national strategic Bitcoin reserve.
Establishing a national strategic reserve of Bitcoin
Appoint a Bitcoin and crypto presidential council to design regulatory reforms.
Develop a presidential committee for Bitcoin and crypto to involve regulatory reforms
Ensure that Bitcoin continues to be mined in the U.S.
Ensure Bitcoin mining in the United States
Make the U.S. the “Crypto Capital” of the world.
Make the United States the crypto capital of the world
Remove capital gains taxes on Bitcoin transactions.
Cancel the capital gains tax on Bitcoin transactions
Ensure that the U.S. does not introduce a CBDC.
Guarantee that the United States will not issue CBDC
If Trump can fulfill his tax exemption promise before 2027, then the IRS will be in vain.
Come on Trump ~
