šØ Attention! The IRS has released new regulations that classify DeFi protocols as intermediaries, which has generated a negative reaction in the cryptocurrency industry š¤Æ. According to the regulations, front-end protocols that facilitate digital asset transactions must comply with Know Your Customer (KYC) disclosures š. The cryptocurrency community has reacted strongly on social media, and legal experts argue that the IRS may be overstepping its authority.
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