Golden Finance reports that according to the rules published in Friday's Federal Register, the IRS requires "DeFi brokers" to collect user transaction information. It is reported that "DeFi brokers" will act like traditional brokers handling securities and are required to collect information about their users' transactions and send them 1099 forms. Brokers must send these 1099 forms to clients. Additionally, some "participants in the decentralized finance industry" must submit tax returns disclosing "the name and address of each client." The U.S. Treasury noted that the final rules apply to "front-end service providers" that interact "directly with customers," meaning entities that operate the primary websites used to access decentralized protocols, rather than the protocols themselves. According to the document, the rule is expected to take effect on or after January 1, 2027.