Recently, the IRS (Internal Revenue Service) in the United States classified DeFi frontends as brokers, causing a stir in the crypto industry. 💥 After proposing this rule, the U.S. Treasury and IRS received over 44,000 comments, indicating the market's high concern about the new regulations.

Alex Thorn, the research director at Galaxy Digital, proposed three options for response: DeFi services can choose to comply with the IRS reporting requirements, restrict access for U.S. users, or stop upgrading smart contracts and generating revenue. 🔍

Thorn pointed out that highly decentralized applications, which cannot provide user information, may not be considered 'brokers' and thus exempt from reporting requirements. This proposal may affect the future development direction of DeFi. 📈