Consensys lawyer: IRS cancels one final broker reporting rule for us

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Odaily2024/06/30 01:05

By:Odaily

Odaily News Consensys lawyer Bill Hughes said on the X platform that the IRS canceled a final broker reporting rule for Consensys. It did not finalize the rules for non-custodial wallets and related non-custodial software products. They said that these products are still under review and may be brokers, and they will determine their status later. At the same time, he said that the scope of digital assets under this final rule is too broad, and every NFT disposal is a reportable event, as is every stablecoin disposal. If you dont submit a form to the IRS stating that the gain or loss is a fraction of a cent, then you cant convert USDC to US dollars on an exchange.

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