Defi sector A victory in the United States: Congress decided to cancel the list that requires Defi platforms to submit a report to Internal revenue service (IRS) encryption sales revenue and taxpayer data concerned.
Despite this step forward, The issue of Defi is still open.
Organization News: Congress prevents the tax interest base on Defi
on March 12, 2024the House of Representatives Voice to cancel a base issued by the Tax Authority in December 2024, which would have moved into force in 2027.
The list required Defi protocols to track and report all digital asset sales, including Nfts and Stablecoin.
This measure was criticized by the various pressure groups on the encryption industry, who considered this Attractive and beyond the efficiency of the tax agency.
After approval at home, The White House expressed its support for this measurewith Donald Trump Ready to sign the bill once he arrives at his office.
However, although this list stops, Defi still needs to find the right balance between Privacy and organization.
The encryption community welcomed the vote in the room. Marta BilcherPresident Filecoin FoundationHe stressed the importance of protection User privacy In transactions on decentralized protocols.
Belcher highlighted the need to allow people to do so Anonymous digital assetsJust like criticism.
According to Defi supporters, the Tax Authority regulation would undermine this principle, forcing decentralized platforms to collect and share sensitive personal information.
the Blockchain AssociationOne of the main pressure groups in the industry, the list also described it as it Unjustified violation of privacyOn the pretext that such an assumption would have paid industry To move outside To avoid organizational restrictions in the United States.
Although the cancellation of the regulation is a temporary mitigation, the sector still needs Clear guidance Privacy in Blockchain transactions.
Vivic RamanEtherealize CEO of Etherealize Solid organizational frameworks This balance between the user’s privacy with the customer’s knowledge (KYC) and the requirements for the anti -money laundering (AML).
The organization’s dilemma in decentralized financing
One of the most complicated problems in the organization of Defi is related to its nature: Who is considered responsible for a central system?
Unlike banks or central exchanges, Defi protocols operate independently thanks Smart contracts on BlockchainWithout a central entity that can be easily organized.
Vivic Raman explained this, It is not controlled by a specific company or authorityThese protocols cannot fulfill tax obligations such as issuance 1099 forms To report taxable profits.
Some experts believe that to meet the regulatory requirements, Defi protocols may voluntarily cooperate with governments.
An example of what happened yet Attack $ 285 million on CocoinWhere some protocols The stolen money was frozen to prevent laundering.
One of the possible solutions that suggested reconciling privacy and organization is to integrate zero knowledge of the ZKP, which is an encryption technique that allows Proof of information without being completely disclosed.
This method can allow users Check their identities without exposing sensitive dataAnd therefore address many privacy concerns.
Despite the difficulties, Raman is optimistic: In the future, there will be a composition from Integration between compliance and DefiWhere it will be possible to organize the sector without sacrificing the decentralization and the privacy of the user.
The regulatory framework for encryption in the United States
The Trump administration showed FavorableAnd the adoption of many measures Support from Blockchain companies.
Among them, creation Strategic reserves Bitcoin For the United States represents A clear indication of support For the growth of the sector.
The Securities and Stock Exchange Committee (SEC) and the CFTC futures trading committee (CFTC) also reduced legal measures against encryption companies. Thus relieving organizational pressure.
However, the encryption community is still awaiting A clear organizational frameworkCreating to provide Guidance for companies and investors. There are two main proposals currently under discussion in Congress:
- – GeniusA draft law on stablecoins, approved in March 13, 2024 By the Senate Banking Committee.
- – Occupation 21A broader organization in the encryption sector, which has been rejected in advance, but it can be approved with some adjustments.
If approved, Fit 21 will exclude Defi from the direct supervision of SEC and CFTC. Instead, it will be entrusted Research group with the task of studying the effects of decentralized financing.
This approach can lead to More targeted legislative recommendationsBased on a deep understanding of the sector.
The cancellation of the Tax Authority list represents Defi’s decisive victory And to protect the user privacy.
However, the The debate on the organization of the sector remains open. The United States conference is working on a different Bills To determine a clear organizational framework for the encryption world.
The challenge will be to find The correct balance between security, transparency and financial freedom. While it is still a guarantee at the same time Protection of users and innovation of the Blockchain sector.
Accreditation Techniques such as the evidence of zero knowledge You can offer TangibleAllow to reach existence without prejudice to global regulatory requirements.
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