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A Nation of Bitcoin Scofflaws: The two-pronged Eleventh Hour IRS squeeze on Bitcoin and crypto developers my quick take in @npub18vj0...ws2a on the broker-dealer rule for DeFi and the so-called "safe harbor" tax rule that is confusing the hell out of everyone

The Rage

The two-pronged Eleventh Hour IRS squeeze on Bitcoin and crypto developers

The IRS is cracking down on noncustodial services with two new rules finalized between the years.

Replies (3)

Hazey 🛡️ 1 year ago

Do not comply with the enemy

Yaël 🛡️ 1 year ago

The best way to actually fix this would be a simple one page bill, granting de minimis exemption to all bitcoin transactions below $50,000. View quoted note →

BitLo 🛡️ 1 year ago

Good article. Sounds about right. I doubt a de minimus exception would ever be that high, but having one would certainly make sense and bring Bitcoin a little closer to being treated as legal tender.