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Coinbase VP: Taxation on DeFi will be 'extremely challenging'

Lawrence Zlatkin, the tax vice president of cryptocurrency exchange Coinbase, said that the proposal by the US Department of the Treasury and the Internal Revenue Service (IRS) for tax reporting requirements on cryptocurrency brokers is ultimately unrealistic. When discussing the new rules proposed by the Biden administration earlier this year, Zlatkin stated that collecting information from decentralized exchange (DEX) users would be "extremely challenging". In addition, tracking the gains and losses of traders and investors should not specifically target DEX.

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