Crypto vs. IRS: The Fight Over DeFi ⚖️
Three major crypto groups — DeFi Education Fund, Blockchain Association, and Texas Blockchain Council — have filed a lawsuit against the IRS to block new rules requiring DeFi platforms to report user data.
What’s happening?
The IRS is finalizing crypto tax regulations under the Infrastructure Investment and Jobs Act.
Goal: “close the information gap” on digital assets.
Why it matters:
DeFi platforms aren’t traditional brokers; they provide access to protocols but don’t process transactions themselves.
These rules could overburden DeFi platforms and push innovation out of the U.S.
Key quote:
Marisa Coppel, Blockchain Association:"This violates privacy rights and threatens the growth of decentralized technology." link
Can the crypto industry push back? The stakes couldn’t be higher.