Crypto lobby group Blockchain Association files lawsuit over the IRS 'DeFi broker' rule
Internet reports that the U.S. cryptocurrency lobby group (Blockchain Association) issued a document saying that it has filed a lawsuit against the new "broker" regulations passed by the U.S. Internal Revenue Service and the Treasury Department. The U.S. Inland Revenue Service and the Treasury Department have exceeded legal authority and expanded the definition of "broker" to include providers of DeFi transaction front-end, even though they do not execute transactions. This not only violates the privacy rights of individuals using decentralized technology, but also pushes emerging technologies overseas.
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