Odaily Planet Daily News The latest ruling from the IRS requires DEX to comply with the same reporting standards as traditional brokers, which has drawn sharp criticism from cryptocurrency executives and legal experts. Uniswap's Chief Legal Officer (CLO) Katherine Minarik recently stated, "There are many ways to challenge this rule, and it absolutely should be challenged." She questioned the IRS's reasoning, arguing that the ruling incorrectly classifies DeFi platforms as brokers, even though their role is merely part of the trading process. Uniswap CEO Hayden Adams also expressed similar concerns, stating a hope to overturn the ruling through the Congressional Review Act (CRA) or legal challenges. The new regulations announced by the IRS on December 27 require brokers to report total earnings from digital asset transactions, including cryptocurrencies, stablecoins, and NFTs. This expanded scope now includes front-end DeFi platforms and will be implemented in 2027. Critics argue that these requirements are unsuitable for the decentralized nature of such platforms, which often lack the infrastructure for traditional reporting. Robin Singh, CEO of the crypto tax platform Koinly, warned that compliance could impose significant operational and technical burdens on decentralized businesses. "The decentralized structure of these platforms makes traditional reporting extremely challenging," Singh pointed out. Bill Hughes, a lawyer at blockchain development firm Consensys, described the ruling as "costly with no benefits," criticizing its global impact that requires both U.S. and international users to submit reports. He predicts that this regulation will face Congressional scrutiny and may encounter opposition. Critics also slammed the IRS for issuing the ruling during the holiday season, suggesting it was a deliberate attempt to limit public reaction. Jake Chervinsky, Chief Legal Officer of venture capital firm Variant, called the rule an "illegal" measure taken by the outgoing government's "anti-cryptocurrency army." He believes that the ruling may be overturned by the courts or a new government.