Reported by JAMES M. GATHECHA The U.S. Treasury Department and the Internal Revenue Service (IRS) have unveiled a tax reporting framework that will affect the fast-growing decentralized finance (DeFi) sector. This new regulatory framework introduces several key provisions designed to ensure compliance and capture tax revenue from the rapidly expanding industry, including a requirement for […]

Reported by Aimee Picchi With the court ruling that enforcement can proceed, many small business owners may scramble to register ahead of deadline, although FinCEN said on Dec. 23 that it is extending the deadline until Jan. 13 due to the late December court ruling. “Reporting companies that were created or registered prior to Jan. […]