Delphi Labs researcher lex_node stated on social media X (formerly Twitter) that the proposed financial regulations for cryptocurrency brokers have just been released, which explicitly categorizes various personnel involved in DeFi (including website operators communicating with wallets) as brokers. Many DeFi network applications that have US users will need to track users' profits and losses and issue tax reports to them every year.

This could have a devastating impact on the use of P2P protocols in the US. It may even affect Ethereum, as it can be used with smart contracts. In addition, it is speculated that KYC and tax reporting will include Metamask, as well as operators of network applications such as AMM and potential DAOs.