Last week, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) released final regulations that significantly impact the reporting requirements for brokers involved in digital asset transactions. The stated aim of the new rules, which are part of the Biden-Harris Administration’s implementation of the bipartisan Infrastructure Investment and Jobs Act, is to streamline tax reporting and ensure compliance within the decentralized finance (DeFi) sector. The regulations will become effective 60 days after their publication in the Federal Register.
David Madrazo
David assists clients with a variety of transactional needs, including mergers and acquisitions and other general corporate matters. He focuses his practice on structured finance and securitization matters. David represents the corporate trust departments of financial institutions in their capacities as corporate trustee, collateral administrator, collateral agent, paying agent, custodian, securities intermediary, and other service provider capacities. He has representative experience in collateralized loan obligation transactions, warehouse facilities, and loan financing transactions.