On April 10, 2025, President Donald Trump signed a joint resolution to repeal the DeFi broker reporting regulations which were finalized in December in T.D. 10021....more
On March 4, 2025, the U.S. Senate passed joint resolution S.J.Res.3, disapproving the DeFi broker reporting regulations Treasury finalized at the end of the Biden Administration. Senator Ted Cruz (R-TX) introduced the...more
3/10/2025
/ Biden Administration ,
Congressional Review Act ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Disclosure Requirements ,
Financial Services Industry ,
FinTech ,
IRS ,
Joint Resolutions ,
Regulatory Reform ,
Reporting Requirements ,
U.S. Treasury
On January 23, 2025, the Securities and Exchange Commission (SEC) issued Staff Accounting Bulletin 122 (SAB 122), rescinding the controversial SAB 121....more
The U.S. Treasury Department and the Internal Revenue Service (IRS) released final broker reporting regulations with respect to DeFi on December 27, 2024, in T.D. 10021. These final regulations apply to sales of digital...more
On Friday, August 25, 2023, the U.S. Treasury Department (Treasury) released proposed regulations interpreting the broker reporting rules for digital assets that were part of the 2021 Infrastructure Investment and Jobs Act...more
On March 21, 2023, the Internal Revenue Service (IRS) announced its intent to issue guidance related to the taxation of certain types of nonfungible tokens (NFTs). Notice 2023-27 is the agency’s first published document...more