December 31st, 2024
Host Trevor Bello dives into the lawsuit filed by the Texas Blockchain Council and the Blockchain Association against the IRS, challenging new regulations that classify decentralized exchanges as brokers. Set to take effect in 2027, these rules mandate extensive reporting of digital asset transactions and user information, which the plaintiffs argue infringes on privacy rights and exceeds the IRS’s authority. This legal action seeks to protect the rights of decentralized finance users and promote innovation in the cryptocurrency space by opposing onerous compliance requirements.
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