A number of months in the past, the U.S. Treasury Division put out its long-awaited proposed rule for implementing dealer reporting requirements on cryptocurrency entities. The proposal advised capturing hosted pockets suppliers, fee processors, some decentralized finance (DeFi) entities and others as “brokers,” which means these teams can be topic to particular crypto tax reporting necessities. The Treasury additionally introduced a public remark interval, asking for suggestions on the general rule, and in addition asking particular questions on completely different provisions detailed inside the doc.
