US Treasury Officially Drops Crypto Broker Reporting Rules
US Treasury Officially Drops Crypto Broker Reporting Rules
The U.S. Treasury Department has officially removed the controversial crypto broker reporting rules, according to a report by Bloomberg. The decision marks a significant shift in how crypto-related financial disclosures are handled in the United States, and could reduce compliance burdens for exchanges, DeFi protocols, and wallet providers.
Originally introduced under the 2021 Infrastructure Investment and Jobs Act, the broker rules were criticized for being overly broad and technically unfeasible. They sought to classify a wide range of digital asset entities — including miners and developers — as brokers required to report user transaction data to the IRS.
The Treasury’s reversal comes after sustained lobbying by industry leaders and crypto advocacy groups, who argued that the rules would stifle innovation and drive companies offshore. Analysts now see this move as a positive signal for U.S. crypto policy, especially as new frameworks for taxation and compliance are being developed.
While some form of regulatory clarity is still expected in future legislation, the removal of the broker provision alleviates immediate legal uncertainty for many crypto startups and infrastructure providers operating in the U.S.
The update also reflects a broader rethinking of digital asset oversight, as policymakers balance national tax enforcement goals with the need to support blockchain innovation and competitiveness.
Disclaimer: This article is for informational purposes only and does not constitute legal or tax advice. Regulatory conditions may change and vary by jurisdiction.
U.S. Treasury officially removes crypto broker reporting requirements, reducing compliance pressure and signaling a policy shift in crypto regulation.
