PANews reported on December 29 that according to Cointelegraph, the recent reporting rules issued by the U.S. Internal Revenue Service (IRS) designated decentralized finance (DeFi) front ends as brokers, which has brought shocks to the crypto industry. Alex Thorn, head of research at Galaxy Digital, outlined three potential options for DeFi if the IRS rules are not revoked: DeFi services and applications can comply with IRS reporting requirements and accept broker designation, try to block users from the United States, or give up smart contract upgrades and revenue generation.