The IRS Tightens Its Grip on Crypto Enthusiasts

The U.S. Internal Revenue Service (IRS) is preparing to require DeFi projects to collect personal data on their users and track their trading activities.

🔸 What's Happening?
Taxation on Staking: Income from staking has officially become taxable.
First Conviction: Recently, the first individual was convicted for tax evasion related to crypto earnings.
The Implication:
This means that crypto users bear all the risks associated with staking while the government reaps the benefits through taxes. 👍

Stay informed and compliant to navigate these growing regulatory pressures!