Galaxy Digital Research Director: If the IRS ultimately determines that the front end of Decentralized Finance is a broker, Decentralized Finance faces three potential choices.

PANews reported on December 29th that the recent IRS report designates the front end of Decentralized Finance as a broker, which has implications for the encryption industry. Alex Thorn, research director at Galaxy Digital, outlined three potential options for Decentralized Finance if the IRS rules are not revoked: Decentralized Finance services and applications can comply with IRS reporting requirements and accept broker designation, attempt to block users from the United States, or forgo Smart Contract upgrades and revenue.

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RebOWagevip
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