Blockchain Association Heads Lawsuit Over DeFi Changes
Reading Time: 2 minutesThe Blockchain Association and others have filed a lawsuit against the IRS, Treasury Department, and Secretary Janet Yellen over new broker reporting rules The plaintiffs argue the regulations exceed statutory authority, threaten the decentralized finance (DeFi) industry, and violate constitutional rights The rules redefine “brokers” to include DeFi participants, requiring onerous reporting standards that plaintiffs claim are unfeasible and unconstitutional The Blockchain Association, Texas Blockchain Council, and DeFi Education Fund have initiated legal proceedings against the U.
Reading Time: 2 minutesThe Blockchain Association and others have filed a lawsuit against the IRS, Treasury Department, and Secretary Janet Yellen over new broker reporting rules The plaintiffs argue the regulations exceed statutory authority, threaten the decentralized finance (DeFi) industry, and violate constitutional rights The rules redefine “brokers” to include DeFi participants, requiring onerous reporting standards that plaintiffs claim are unfeasible and unconstitutional The Blockchain Association, Texas Blockchain Council, and DeFi Education Fund have initiated legal proceedings against the U. What's Your Reaction?
