The U.S. Department of the Treasury and the Internal Revenue Service (IRS) officially released new tax rules for decentralized finance (DeFi) brokers this week, requiring them to report total returns from digital asset transactions starting in 2027, although the new rules have been finalized , but its future implementation is not a certainty. (Previous summary: Michael Saylor: Trump really wants to build a Bitcoin reserve! He has met with the new government team many times) (Background supplement: Full text of the "U.S. Bitcoin Strategic Reserve" executive draft: Manage BTC as a permanent national asset ) The U.S. Department of the Treasury and the Internal Revenue Service (IRS) released the final version of the regulations on Friday (27th). Starting from January 1, 2027, "decentralized finance (DeFi) brokers" will be required to report the total proceeds from digital asset sales. In order to strengthen tax compliance and narrow the tax gap, the new regulations clearly define the scope of brokers, covering various types of service providers in cryptocurrency transactions, and especially refine the tax information reporting obligations of decentralized finance (DeFi) participants. . New regulations for DeFi brokers: Obligations, scope and exceptions Analysis of broker information reporting obligations According to KOL @Phyrex_Ni, in the future, all DeFi brokers will need to submit information reports (such as Form 1099-B) to the IRS, which should include the following information: Transactions Total revenue: The total revenue from digital asset transactions. Information of both parties to the transaction: including basic information such as identity and address. Transaction details: The asset transfer price and basic cost need to be recorded. Expansion of the scope of brokers: The new regulations clarify the definition of brokers and include individuals and organizations that serve digital asset transactions, including but not limited to: Transaction matching service providers. Market creator. Order matching service provider. Enterprises that provide custody or custody-style services, especially in DeFi, and intermediaries involved in digital asset transactions, such as major portals or protocol front-end service providers involved in digital asset transfers, will also be considered brokers. Exceptions The following categories are exempt from broker reporting obligations: Participants (such as validators) who are solely responsible for validating transactions. Suppliers that only provide hardware or software to manage digital asset private keys. Other participants who are not directly involved in facilitating the transaction or do not have access to the details of the transaction. The backlash in the crypto industry continues. Lawyers reveal: There is still room for maneuver. After the release of the new regulations, it triggered widespread criticism within the crypto industry. The "DeFi requires KYC" standard is ridiculous. In fact, Alex Thorn, the research director of Galaxy Digital, has already Regarding this specification, it was pointed out last year that the DeFi industry may face three options in the future: DeFi services and applications can choose to comply with the reporting requirements of the IRS. First: accept the identity of a broker; second: try to prevent US users from using its services; third Three: Give up smart contract upgrades and revenue generation. DeFi applications that do not provide a front-end website, do not support upgraded contracts, and do not receive consideration from the disposal of digital assets (i.e., no fees) may be exempt from being recognized as brokers under the proposal. In other words, extremely decentralized applications cannot obtain relevant information and cannot meet the reporting requirements of brokers. Although the new regulations have been finalized, their future implementation is not certain. According to the procedures, the new regulations may face congressional review, especially after new members of Congress take office, with the power to review and veto. There have been successful cases in the past. For example, this year Congress voted to reject the SAB 121 rule for digital asset accounting. Consensys lawyer Bill Hughes criticized the timing of the release of the new rule on the X platform and explained: First, a lawsuit will be filed alleging that the rule exceeds within the authority of the Treasury Department and in violation of the (Administrative Procedure Act). The rule could then go to Congress, where it could veto it, as it did with this year's vote on SAB 121. The outgoing government did not leave peacefully, and the struggle continues. Related reports: Trump is dissatisfied: Taiwan has stolen 100% of the U.S. chip business and "should pay protection fees." TSMC fell in response. What is he planning? Trump choked Taiwan on paying protection fees, "TSMC fell below 1,000 yuan"! White House: Taiwan’s long-term military purchase of billions of magnesium has contributed greatly to the U.S. economy. After being shot, Trump made a speech injured: God spared me from death, “I will cut interest rates to eliminate inflation,” and then mentioned that Taiwan will be involved in the Third World War. Taiwan robbed it. Is the U.S. chip industry a job loser? Semiconductor expert: TSMC helps the United States make money, but Trump has ulterior motives. Is there any room for maneuver in the Biden administration’s last shot at the DeFi industry?"This article was first published in BlockTempo (Dong District Dongzhu - the most influential blockchain news media).