The new IRS proposed rule appears to affect decentralised exchanges and classify them as “brokers”: https://www.nasdaq.com/articles/irs-proposed-rule-on-digital-asset-broker-reporting-could-kill-crypto-in-america
How will this affect Bisq?
Bisq is not a US based company. It is a DAO.
The article states:
These new brokers would be required to collect personal information of users – including their name, address and tax identification number – and then furnish them with a form 1099.
Bisq is privacy focused, maybe if laws like this become implemented then Bisq would see an increase in users that have concerns about the ever increasing information countries want on their citizens.
Considering that the notion of “broker” will include all digital asset trading platforms Federal Register :: Request Access, won’t Bisq need to implement measures that ensure the service won’t be provided to users based in the US?
You reckon bisq should make sure the service is not offered to US residents?
I personally have always seen decentralized p2p platforms being explicitly excluded from the regulated entities, but I am not familiar with 100% of new regulations that are passed, am not a legal expert, nor anyone in here is 