From January 1, 2027, DeFi platforms such as Uniswap and AAVE will be required to report user transactions to the IRS, treating digital assets as traditional finance. The measures aim to enhance tax compliance, affecting numerous DeFi platforms and millions of users.
Critics worry that these rules challenge the decentralized nature of DeFi. Legal challenges are anticipated, questioning the IRS’s authority under the APA. The Blockchain Association and prominent figures foresee potential pushback against these IRS regulations, which may lead to Congressional review.
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