IRS Rule Sparks DeFi Privacy Concerns
- The IRS rule mandates DeFi brokers to disclose user data starting in 2027.
- 765 DeFi brokers and about 2 million American taxpayers will be affected.
- The rule arises from the “Infrastructure Investment and Jobs Act” of 2021.
The requirement for DeFi brokers to share user data could drive technological innovation offshore, as it impacts approximately 765 brokers. This regulatory move might undermine the U.S.’s position in the digital economy, potentially affecting investment and development within the country.
