New regulation for decentralized finances might become final blow for US-based companies
The proposed definition of a broker is alarmingly broad, extending even to websites that interact with blockchain wallets. This could potentially include blockchain explorers and tax software, a scope that many see as an overreach of regulatory authority.
Critics argue that this demonstrates a fundamental misunderstanding of blockchain technology on the part of the regulatory bodies.Given that a wallet seems to be defined as the actual blockchain account rather than a software, that means that this would find *everything* including Etherscan and tax software to be"brokers"?
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