News & Analysis as of

Final Rules Decentralized Finance (DeFi)

Cadwalader, Wickersham & Taft LLP

For 2025, Crypto Taxpayers Can Get Their Ducks in a Row; But Senator Cruz Says “Nyet” to DeFi Regs

Last year, the Treasury and IRS released two sets of final crypto reporting regulations. The first set, in July, imposed rules for custodial brokers. The second set, in December, imposed rules for DeFi. This piece provides...more

WilmerHale

2024 CFTC Year in Review: An Overview of a Transitional Year

WilmerHale on

Coming off a busy 2024, we expect that 2025 will be a landmark year for the Commodity Futures Trading Commission (CFTC or Commission). Rostin Behnam’s resignation as Chairman on January 20 marked the end of the Biden...more

Cadwalader, Wickersham & Taft LLP

Final Crypto Reporting Regulations for DeFi

On December 27, 2024, the Treasury and the IRS released final regulations (the “Final Regulations”) on reporting requirements for decentralized finance (“DeFi”) participants, accompanied by a press release, and Notice 2025-3,...more

Troutman Pepper Locke

IRS Finalizes New Rules for DeFi Brokers: Challenge Immediately Filed in Texas Federal Court

Troutman Pepper Locke on

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) released final regulations that significantly impact the reporting requirements for brokers involved in digital asset transactions. The stated aim of...more

Fenwick & West LLP

IRS Final Broker Reporting Regulations for DeFi

Fenwick & West LLP on

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

WilmerHale

US District Court Vacates Controversial Dealer Rules

WilmerHale on

On November 21, 2024, the US District Court for the Northern District of Texas vacated rules adopted by the Securities and Exchange Commission (SEC) in February 2024. Those rules had defined language in the definitions of...more

Cozen O'Connor

CFPB Finalizes Personal Financial Data Rights Rule

Cozen O'Connor on

The CFPB has finalized a rule promoting a shift toward open and decentralized banking by requiring depository and nondepository entities to make certain data relating to consumers’ transactions and accounts available to...more

Fenwick & West LLP

Treasury’s Crypto Tax Reporting Rules Defer on DeFi

Fenwick & West LLP on

On June 28, 2024, the U.S. Treasury Department and the Internal Revenue Service (IRS) issued final broker reporting regulations that mandate broker reporting for centralized exchanges and hosted wallet providers, providing...more

Fenwick & West LLP

SEC Finalizes “Dealer” Regulation – Uncertain Impact to Cryptoasset Market Participants

Fenwick & West LLP on

On February 6, the United States Securities and Exchange Commission (SEC) voted 3-2 to adopt Rules 3a5-4 and 3a44-2 under the Securities Exchange Act of 1934 (“Exchange Act”), as a final regulation to further clarify the...more

Goodwin

Trading Venues in the UK: Regulatory Clarity for Fintech Providers; Implications for Crypto-Trading and DeFi?

Goodwin on

The UK Financial Conduct Authority (FCA) has published its policy statement PS23/11 (PS), containing final guidance (the guidance) on trading venues. A firm requires trading venue authorisation from the FCA if it operates...more

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