Crypto Taxes

Defining a Decentralized Exchange Draws Spotlight in Lummis-Gillibrand Legislation

There may be good news ahead for those looking to earn new tokens by providing security to major blockchains that operate using proof-of-stake.  Joshua and Jessica Jarrett on Dec. 20 received a letter from the Department of Justice saying that the Internal Revenue Service (IRS) had approved a full refund of their 2019 taxes against…

U.S. Treasury Secretary Janet Yellen said the government would waive non-custodial from complying with stringent reporting requirements approved by the FATF.

Should DAOs pay taxes? And, if so: Where? There’s a conversation underway in MakerDAO about how it should relate to the governments of the world, which has implications for the whole DeFi industry. In short, people are talking about whether or not MakerDAO should find a way to pay its taxes. “I don’t think anyone…

Earlier this month when the infrastructure bill came with a provision to broadly expand the definition of brokers to include blockchain ecosystem participants such as miners, developers, and others, the crypto industry sprung into action.  Builders, investors, enthusiasts, lawyers, and everyone in between embarked on an all-out effort to add to the Lummis-Tooly-Wyden amendment and…