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CEO at DeFi Alliance DAO

DeFi Alliance DAO

Oi, crypto fam, brace yourselves! The Yanks have lobbed a proper curveball regarding crypto dosh and the taxman. 🚨 What's the Crack? The U.S. Treasury is keen on getting all crypto brokers to grass on us to the IRS. We're talking full disclosure on your crypto sales and trades. They're even bringing out a new form, the 1099-DA, to make it all official-like. Why All This Fuss? The plan is to make it a doddle for us crypto lot to sort our taxes and get crypto brokers to spill the beans just like stock or share brokers do. Who's the Snitch? 🕵‍♀ This goes for both your regular centralized exchanges and even the decentralized ones. Even some online wallets aren't safe from this, mate. Oh,...

Oi, crypto fam, brace yourselves! The Yanks have lobbed a proper curveball regarding crypto dosh and the taxman. 🚨

What's the Crack?
The U.S. Treasury is keen on getting all crypto brokers to grass on us to the IRS. We're talking full disclosure on your crypto sales and trades. They're even bringing out a new form, the 1099-DA, to make it all official-like.

Why All This Fuss?
The plan is to make it a doddle for us crypto lot to sort our taxes and get crypto brokers to spill the beans just like stock or share brokers do.

Who's the Snitch? 🕵️‍♀️
This goes for both your regular centralized exchanges and even the decentralized ones. Even some online wallets aren't safe from this, mate. Oh, and it isn't just Bitcoin and Ether; NFTs are in the mix, too.

Where's It All Coming From?
This paper is part of their whacking great $1 trillion Infrastructure Bill. They reckon this could bring in a cool $28 billion over a decade.

Reactions?
Some crypto gangs reckon it's a good move for clarity, while others are throwing a wobbly, especially those running decentralized platforms.

Who's Gonna Get Miffed?
Everyone from Metamask to Uniswap might have to toe the line, and even smart contracts with multi-sig might not escape the dragnet.

What's Next?
They're open to chinwags till Oct 30, with a public natter scheduled for Nov 7-8. So, if you've got something to say, now's your chance.

Don't just take my word for it; get stuck into it and do your due diligence. 🇬🇧🔥

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