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The Week in Crypto Policy: DeFi Broker Rule

George LeonardoJan 3, 2025 ⋅ 9 min read

Key Takeaways

  • Treasury and the IRS finalized a rule to require certain providers of front end services that enable users to interact with DeFi trading protocols to comply with broker tax reporting requirements.
  • The House will vote for a Speaker later today.
  • Two bipartisan crypto bills were introduced in late December:
    • Reps. William Timmons (R-SC) and Ritchie Torres (D-NY) introduced a bill to clarify that certain NFTs (like artworks, collectibles, and video game assets) are not securities.
    • Reps. Gabe Amo (D-RI) and Young Kim (R-CA) introduced a resolution emphasizing the importance of distributed ledger technology in “democratic governance, human rights, internet freedom, and transparency.”

DeFi Broker Rule

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George Leonardo

70 ReportsCapHillCrypto

George Leonardo is the founder of Cap Hill Crypto, a solo-entrepreneur venture focused on providing nonpartisan insights and analysis on U.S. federal crypto policy. Previously, he worked on Capitol Hill for Senator John Cornyn and as a litigation associate at Milbank LLP.

Outline
  • Key Takeaways
  • DeFi Broker Rule
  • Look Ahead
  • Quick Hits
Author
George Leonardo
George Leonardo is the founder of Cap Hill Crypto, a solo-entrepreneur venture focused on providing nonpartisan insights and analysis on U.S. federal crypto policy. Previously, he worked on Capitol Hill for Senator John Cornyn and as a litigation associate at Milbank LLP.
70 ReportsCapHillCrypto