The US Department of the Treasury and the Internal Revenue Service (IRS) have released the final version of its broker rules to digital assets services providers, which includes provisions on requiring DeFi protocols to conduct Know-Your-Customer (KYC) procedures.
Industry experts have already criticized the new provision for being unlawful and out of the Treasury’s regulatory reach.
The regulations require brokers who take possession of digital assets on behalf of customers, including DeFi front-ends as brokers, to report sales and exchanges and track and report user activity.
Since a broker must report user tax, the new rule requires DeFi front-ends to perform KYC processes.
Although digital asset brokers should comply with the new rules by Jan. 1, 2025, the obligations will only be applied to DeFi brokers by Jan. 1, 2027. The different starting periods are based on the lack of proper systems for backing up, collecting, reporting, and storing information.
Additionally, the IRS indi
We współpracy z: https://cryptoslate.com/treasury-and-irs-finish-broker-rules-for-defi-require-kyc-from-protocols/
