Treasury and the IRS finalized a rule to require certain providers of front end services that enable users to interact with DeFi trading protocols to comply with broker tax reporting requirements. As for Congress, the House will look to kick off the 119th Congress by voting for a Speaker today. Before the 118th Congress wrapped up, two bipartisan crypto bills were introduced. First, Reps. William Timmons (R-SC) and Ritchie Torres (D-NY) introduced a bill to clarify that certain NFTs (like artworks, collectibles, and video game assets) are not securities. Second, Reps. Gabe Amo (D-RI) and Young Kim (R-CA) introduced a resolution emphasizing the importance of distributed ledger technology in “democratic governance, human rights, internet freedom, and transparency.”
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