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Reporting Requirements Digital Assets Decentralized Finance (DeFi)

Cooley LLP

Congress Repeals Digital Asset Regulations Applicable to Decentralized Finance Platforms

Cooley LLP on

In a January 27 client alert, we discussed final regulations issued on December 30, 2024, covering tax reporting requirements applicable to certain decentralized finance (DeFi) platforms operating as noncustodial brokers of...more

Fenwick & West LLP

UPDATE: Trump Signs Joint Resolution Repealing DeFi Broker Reporting

Fenwick & West LLP on

On April 10, 2025, President Donald Trump signed a joint resolution to repeal the DeFi broker reporting regulations which were finalized in December in T.D. 10021....more

Jones Day

Developments in Crypto Regulation: DeFi Tax Reporting Repeal and SEC Disclosure Guidance

Jones Day on

The Trump administration continues its efforts to relax digital asset regulation, including most recently by exempting decentralized finance ("DeFi") apps and wallets from tax reporting and through Securities and Exchange...more

Fenwick & West LLP

Rollback of DeFi Reporting Regs Advances Through Congress

Fenwick & West LLP on

On March 4, 2025, the U.S. Senate passed joint resolution S.J.Res.3, disapproving the DeFi broker reporting regulations Treasury finalized at the end of the Biden Administration. Senator Ted Cruz (R-TX) introduced the...more

Seward & Kissel LLP

New Administration Action on Cryptocurrency Tax Regulations

Seward & Kissel LLP on

The Seward & Kissel Tax Group has collected some data and intelligence about what crypto tax changes we may see this year. President Trump aims to assess and revive cryptocurrency regulations via executive order, Congress...more

Cooley LLP

Treasury Department, IRS Issue Final Regulations and Transitional Guidance for Digital Asset Industry Applicable to Decentralized...

Cooley LLP on

On December 30, 2024, the US Department of the Treasury and IRS issued final regulations providing guidance on tax reporting requirements applicable to certain decentralized finance (DeFi) platforms operating as “brokers” of...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

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – January 2025

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....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

Cadwalader, Wickersham & Taft LLP

Finally Final Crypto Reporting Regulations

On June 28, 2024, the Treasury and the IRS released final regulations on reporting requirements for brokers of digital assets (the “Final Regulations”) and provided transitional relief, including Notice 2024-56, Notice...more

Ballard Spahr LLP

IRS Unveils Broad Draft Information Reporting Form for Digital Asset Transactions

Ballard Spahr LLP on

On April 18, the Internal Revenue Service (“IRS”) issued a draft version of Form 1099-DA, a proposed information reporting form regarding certain digital asset sales and exchanges that “digital asset brokers” will need to...more

BakerHostetler

Digital Asset Broker Regulations Target DeFi Platforms and Payment Processors

BakerHostetler on

The Internal Revenue Service (IRS) and the Department of the Treasury issued a 282 page notice of proposed rulemaking regarding digital assets and broker reporting on Aug. 26 (the Proposed Regulations), nearly two years after...more

Freeman Law

The Tax Implications of DeFi: A General Overview

Freeman Law on

DeFi, or decentralized finance, has experienced unprecedented growth over the last few years, resulting in a market cap of approximately $85 billion as of October 2021. Built on blockchain technology and cryptocurrency, DeFi...more

Skadden, Arps, Slate, Meagher & Flom LLP

Cryptocurrency Regulation and Enforcement at the US Federal and State Levels

In recent months, the increased focus on cryptocurrency regulation and enforcement at both the federal and state levels demonstrates the digital currency’s place as an established component of the financial landscape. At the...more

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