On December 27, the Internal Revenue Service published regulations forcing brokers to report certain transactions involving cryptocurrencies, such as Bitcoin, Eth and Sol. The regulations, which have not been well received by the cryptocurrency community, clarify the parties of this community considered as brokers subject to the new declaration requirements. At least three organizations have continued the US government to overthrow new regulations. This column briefly addresses three different sets of problems which arise when a participant DEX (decentralized exchange) or DEFI (decentralized financing) is classified as a broker.
A large part of the concern in the community of cryptocurrencies focuses on Dex transactions and Dex; The concern declared focuses mainly on the fact that DEX and intermediaries in DEFI transactions may not know the identity of the parties to the transactions and are therefore unable to file the 1099-DA form as required. This same concern was raised within the framework of the EU market (European Union) in the regulation of cryptographic assets and the OECD (Organization for Economic Cooperation and Development) proposals and orientation of the asset reporting framework. In both cases, the EU and the OECD did not exempt from Mica / Carf.
