IRS Proposal to Track Your Uniswap Transactions Will Brake the Crypto Industry

THANKS has THE the IRS, your favorite decentralized exchange can need has to start ask For your address, date of birth, And other staff information beginning In 2025.

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THE United States Internal Income Service (IRS) East considering A proposal that would be to have scanning consequences For THE cryptocurrency industry. Investors should be concerned, because he could significantly impact THE path that people — both inside And out America — are allowed has to commit with digital assets.

THE IRS East to propose A initiative below Section 6045 of THE tax coded has establish new tax rules For THE treatment of cryptocurrency suppliers. Specifically, THE agency East while searching has to modify THE law has develop THE definition of "brokers" has include almost all cryptography service suppliers — including, For for example, decentralized Exchanges (DEX) and wallet suppliers. Those suppliers would be be required has collect staff information Since users beginning In 2025, And has to start Sending in progress (A still unpublished) Form 1099-DA has THE IRS In 2026. He would be be A focused on cryptography version of THE 1099-MISC.

THE IRS move has redefine "broker" East not just A regulatory twist but A fundamental change that could remodel THE entire WE. cryptocurrency landscape. By potentially including A wide painting of cryptocurrency service suppliers below This definition, THE IRS East extension It is reach significantly. This expansion means that a lot more entities implied In digital active transactions, Since wallet suppliers has on a small scale developers, could be required has report user information And transaction details has THE government.