+ Follow x Following x Following – Unfollow + Follow x Following x Following – Unfollow + Follow x Following x Following – Unfollow + Follow x Following x Following – Unfollow + Follow x Following x Following – Unfollow + Follow x Following x Following – Unfollow + Follow x Following x Following – Unfollow + Follow x Following x Following – Unfollow + Follow x Following x Following – Unfollow + Follow x Following x Following – Unfollow + Follow x Following x Following – Unfollow + Follow x Following x Following – Unfollow DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. Attorney Advertising. Congress and President Trump have provided legislative relief to decentralized crypto exchanges (and DeFi protocols) from the tax reporting obligations applicable more generally to crypto ‘brokers.’ On April 10, President Trump signed Public Law 119‑5 , overturning the Internal Revenue Service’s (“IRS”) recent extension of the tax reporting obligations applicable to crypto brokers to include DeFi exchanges, as previously discussed here .

This action may be a prelude to the creation of an overall legislative and regulatory framework for crypto that encourages onshoring the crypto industry back to the United States. To embed, copy and paste the code into your website or blog: + Follow x Following x Following – Unfollow DeFi Off the Hook for Crypto Tax Reporting "My best business intelligence, in one easy email…" Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra: * By using the service, you signify your acceptance of JD Supra's Privacy Policy.