Consensys Worried Over IRS Rules for Crypto Brokers

IRS Aims to Expand Crypto Transaction Reporting Requirements

Consensys, the blockchain software developer, raises concerns over proposed IRS regulations for digital-asset brokers. 

They emphasize the need for precision and care in structuring reporting requirements, highlighting potential complexities and proposing a phased-in approach for challenging aspects. The IRS introduced the regulations in September, focusing on expanding reporting requirements for crypto transactions.