Treasury opens a 60-day comment window on digital-asset broker rules
The proposal would extend reporting obligations to certain non-custodial front-ends, a scope industry groups say is unworkable.
The Treasury Department has opened a 60-day public comment period on a proposal that would clarify which digital-asset intermediaries qualify as brokers for tax-reporting purposes.
The central dispute is scope. The draft language reaches parties that "regularly provide services effectuating transfers of digital assets" — wording that trade associations argue could sweep in interface developers who never take custody of user funds.
Officials have pushed back on that reading in briefings, saying the test turns on whether a party is positioned to know the identity of a customer. Critics counter that the distinction is easier to describe than to implement.
Comments close in mid-October. A final rule is not expected before next year, and any effective date would likely be phased.
This article will be updated if Treasury publishes supplementary guidance during the comment window.
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