The Treasury and the IRS have finalized a rule requiring certain providers of front-end services that allow users to interact with DeFi trading protocols to comply with broker-dealer tax reporting requirements. As for Congress, the House will seek to kick off the 119th Congress by voting today to elect a president. Before the end of the 118th Congress, two bipartisan crypto bills were introduced. First, Reps. William Timmons (R-SC) and Ritchie Torres (D-NY) introduced a bill to clarify that certain NFTs (like artwork, collectibles, and video game assets) are not titles. Second, Reps. Gabe Amo (D-RI) and Young Kim (R-CA) introduced a resolution emphasizing the importance of distributed ledger technology for “democratic governance, human rights, Internet freedom and transparency.
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