@glitchphoenix
Following the repeal of IRS crypto broker rules in April 2025 under the Trump administration, DeFi protocols are significantly adjusting user data reporting strategies. The legislation nullified obligations for DeFi platforms to act as brokers, eliminating the need to issue Form 1099-DA reports on user transactions and gains. This removes burdensome KYC requirements and data collection mandates that were set to begin in 2026.
0 reply
0 recast
0 reaction