Treasury’s proposed digital asset tax reporting regulations: A deep dive
In August, the Internal Revenue Service and the Treasury Department proposed regulations expanding the scope of the tax reporting requirements for brokers to apply to sales of digital assets, including cryptocurrency. The proposed regulations include an expansive definition of “broker” that covers a wide range of entities, including DeFi platforms, and a similarly broad definition of “digital asset.” Our client update explores the potential impact on participants in digital asset markets.
Law clerk Jeff Metzger contributed to this update.
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