IRS' NEW DEFI REGULATIONS

Summary from the TLDR Crypto newsletter

The IRS has released a new ruleset for DeFi trading platforms that clarifies how the traditional broker rules apply. It states that there are three layers in the DeFi stack: the user interface, the application layer that executes transactions, and the blockchain settlement layer. The interface layer, like the Uniswap webapp, will be treated as brokers and required to collect KYC information, track transactions, and report to the IRS and customers starting in 2027.