The US Treasury Paves Way for Easier Crypto Transactions
2025-07-11 02:15:54
Main Idea
The US Treasury Department has removed the crypto 'broker reporting' obligation for DeFi platforms, aiming to protect public benefits without inhibiting new financial technologies.
Key Points
1. The US Treasury Department overturned the requirement for DeFi platforms to collect and transfer user information, a rule initially proposed in 2022.
2. This decision follows the US Congress overturning the IRS's tax rule, making DeFi platforms more flexible to accelerate innovation.
3. The Treasury stated the move aims to balance public benefits and technological advancement in the financial sector.
4. The removal of the reporting rule is expected to mark the beginning of a new era for DeFi expansion and development.
5. Industry trends suggest DeFi, previously under pressure, may benefit from this regulatory change.
Description
The US Treasury removed crypto broker reporting for DeFi platforms. This change reduces bureaucratic burdens, promoting growth and innovation in the sector. Continue Reading: The US Treasury Paves Way for Easier Crypto Transactions The post The US Treasury Paves Way for Easier Crypto Transactions appeared first on COINTURK NEWS .
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