**Crypto News Flash:**

- **IRS Crypto Reporting Rules:** The IRS has introduced new regulations requiring brokers, including decentralized exchanges (DEXs), to report digital asset transactions starting in 2027. This includes disclosing taxpayer information and gross proceeds from crypto sales. DEXs may be classified as brokers if they influence transactions.

- **Blockchain Association Lawsuit:** In response, the Blockchain Association and Texas Blockchain Council have sued the IRS, claiming the rules are unconstitutional and could harm the digital asset industry.

- **Turkey's AML Measures:** Turkey has set new anti-money laundering rules for crypto, requiring users transacting over 15,000 lira ($425) to report their information, effective February 25, 2025.

- **Do Kwon Extradition:** Montenegro's justice minister has approved the extradition of Do Kwon, co-founder of Terraform Labs, to the US after his appeal was dismissed.

- **Hong Kong Stablecoins Bill:** Hong Kong's stablecoin bill has advanced to the Legislative Council. If passed, stablecoin issuers will need a license from the central bank to operate.