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crypto advocate John Deaton criticizes IRS crypto tax reporting rule

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Summary
Nutrition label

66% Informative

Pro-XRP lawyer John Deaton has criticized a newly finalized crypto tax reporting rule issued by the Biden administration.

The rule, titled “ Gross Proceeds Reporting by Brokers that Regularly Provide Services Effectuating Digital Asset Sales ,” was recently introduced by the IRS .

Deaton claims the regulation is detrimental to decentralized finance (DeFi) and stifling innovation.

The finalized regulations are set to take effect on January 1, 2027 .

VR Score

57

Informative language

53

Neutral language

69

Article tone

formal

Language

English

Language complexity

70

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

detected

Known propaganda techniques

not detected

Time-value

short-lived

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