Uniswap chief legal officer said the IRS DeFi broker rule “absolutely should be challenged,” while a Consensys lawyer argued that the ruling was released on “the last Friday of 2024 in the middle of a holiday stretch on purpose.”
Crypto executives and legal professionals are doubtful that the United States Internal Revenue Service’s (IRS) new ruling, which holds decentralized exchanges to the same reporting requirements as traditional brokers, will stick around for long.
“No shortage of ways to challenge this, and it absolutely should be challenged,” decentralized crypto exchange Uniswap chief legal officer Katherine Minarik said in a Dec. 27 X post.
“So once again, the industry — and all kinds of tech beyond the industry — is going to be in search of a limiting principle,” Minarik said.
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