The Internet reported that under rules published in the Federal Register on Friday, the IRS requires "DeFi brokers" to collect user transaction information. It is understood that "DeFi brokers" will act like traditional brokers that handle securities and will be required to collect information about their users 'transactions and send them forms 1099. Brokers must send these 1099 forms to clients. In addition, some "decentralized financial industry participants" must file tax returns that disclose "the name and address of each customer." The U.S. Treasury Department pointed out that the final rule applies to "front-end service providers" who interact "directly with customers," meaning entities running the primary website used to access the decentralized protocol, rather than the protocol itself. According to the document, the rule is expected to take effect on or after January 1, 2027.