<ul><li>The U.S. Department of the Treasury has classified DeFi platforms as traditional brokers, imposing new obligations on them to store and report user transaction data.</li><li>DeFi protocols are now required to implement Know-Your-Customer (KYC) procedures.</li><li>DeFi brokers must comply with new IRS regulations by January 1, 2027, and users will receive Form 1099 for tax reporting purposes.</li><li>Industry experts have criticized the regulations, calling them overreach and illegal, while others are hopeful for potential changes under the new administration.</li></ul>

IRS and Treasury Finalize DeFi Broker Regulations, Market Experts Decry ‘Overreach’

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