Reported 2 days ago
The IRS and U.S. Treasury have introduced regulations imposing Know Your Customer (KYC) requirements on decentralized finance (DeFi) platforms, classifying them as brokers and requiring them to report user transaction data starting January 1, 2027. This move has generated significant backlash from the crypto community, raising concerns about compliance, privacy, and potential stifling of innovation, as these platforms traditionally do not handle user identification.
Source: YAHOO