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Uniswap, a16z and DEF Seek DeFi Exemptions From Illinois Crypto Tax Rules
(2 hours ago) · 1 source · Summarized by CryptoBipto
Uniswap, venture capital firm Andreessen Horowitz (a16z), and the DeFi Education Fund (DEF) are seeking exemptions for decentralized finance protocols from Illinois crypto tax rules. The groups argue that DeFi protocols should be treated differently from centralized crypto entities under the state's tax framework.
WHY IT MATTERS
When you use a traditional financial service, like a bank or a stock brokerage, that company keeps records of your transactions and reports them to tax authorities.
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SOURCES
- thedefiant.io
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UNIDeFi RegulationCrypto TaxationState RegulationUniswapPolicy Advocacy