The latest ruling from the IRS requires DEXs to comply with the same reporting standards as traditional brokers, which has drawn sharp criticism from cryptocurrency executives and legal experts. Uniswap's Chief Legal Officer (CLO) Katherine Minarik recently stated, "There are many ways to challenge this rule, and it absolutely should be challenged." She questioned the IRS's reasoning, arguing that the ruling incorrectly classifies DeFi platforms as brokers, when their role is merely part of the trading process. Uniswap CEO Hayden Adams also expressed similar concerns, stating his hope to overturn the ruling through the Congressional Review Act (CRA) or a legal challenge.
The new regulations announced by the IRS on December 27 require brokers to report the total earnings from digital asset transactions, including cryptocurrencies, stablecoins, and NFTs. This expanded scope now includes front-end DeFi platforms and will be implemented in 2027. Critics argue that these requirements are ill-suited to the decentralized nature of such platforms, which often lack the infrastructure for traditional reporting.
Robin Singh, CEO of the crypto tax platform Koinly, warned that compliance could impose a significant operational and technical burden on decentralized enterprises. "The decentralized structure of these platforms makes traditional reporting extremely challenging," Singh pointed out.
Bill Hughes, a lawyer at blockchain development company Consensys, called the ruling "costly with no benefits," and criticized its global implications, requiring both U.S. and international users to submit reports. He predicted that the regulation would face congressional scrutiny and could be opposed. Critics also slammed the IRS for issuing the ruling during the holiday period, suggesting it was a deliberate attempt to limit public reaction. Jake Chervinsky, Chief Legal Officer of venture capital firm Variant, labeled the rule an "illegal" measure taken by the outgoing government's "anti-crypto army." He believes that the courts or the new government may overturn the ruling.

Odaily Planet Daily reported that the latest ruling from the U.S. Internal Revenue Service (IRS) requires decentralized exchanges (DEXs) to adhere to the same reporting standards as traditional brokers, which has drawn sharp criticism from cryptocurrency executives and legal experts. Uniswap's Chief Legal Officer (CLO) Katherine Minarik recently stated, "There are many ways to challenge this rule, and it absolutely should be challenged." She questioned the IRS's rationale, arguing that the ruling incorrectly classifies DeFi platforms as brokers, even though their roles are merely part of the trading process.

Uniswap's CEO Hayden Adams also expressed similar concerns, stating that he hopes to overturn the ruling through the Congressional Review Act (CRA) or legal challenges. The new regulations announced by the IRS on December 27 require brokers to report the total earnings from digital asset transactions, including cryptocurrencies, stablecoins, and NFTs. This expanded scope now includes front-end DeFi platforms and will be implemented in 2027.

Critics argue that these requirements are not suitable for the decentralized nature of such platforms, which often lack the infrastructure for traditional reporting. Robin Singh, CEO of the crypto tax platform Koinly, warned that compliance could impose significant operational and technical burdens on decentralized enterprises. "The decentralized structure of these platforms makes traditional reporting extremely challenging," Singh pointed out.

Bill Hughes, a lawyer at blockchain development company Consensys, described the ruling as "costly without benefits" and criticized its global implications, requiring both U.S. and international users to submit reports. He predicted that this regulation would face Congressional review and could be met with opposition. Critics also condemned the IRS for releasing the ruling during the holiday season, suggesting it was a deliberate move to limit public reaction. Jake Chervinsky, Chief Legal Officer at venture capital firm Variant, labeled the rule as an "illegal" measure taken by the outgoing government's "anti-crypto army." He believes that the courts or a new government might overturn this ruling.

Uniswap CEO Calls for Overturning "DeFi Broker" Rules Through Congressional Review Act or Legal Challenge