On mobile so apologies for formatting. I'm dealing with a situation and need some guidance.
DeFi yield farming tax treatment. I've been dealing with this for about 16 months now and the situation isn't improving.
I have already done some research online but got conflicting advice.
Am I overthinking this or is this a real legal issue worth pursuing?
Been there. Here's what I learned.
What worked for me was filing with the appropriate government agency. It took 4-8 months but was worth it.
I've dealt with this before.
What worked for me was filing with the appropriate government agency. It took 4-8 months but was worth it imo.
Have you tried reaching out to your state's legal aid society? They sometimes have free resources or mediation services.
DeFi protocol hacks are unfortunately in a legal gray area. If the protocol has a bug bounty program and the hacker returns funds, some projects have declined to pursue legal action. But "code is law" isn't actually a legal defense.
I use TokenTax and it handles most DeFi protocols automatically now.