🚀 Hot crypto news: IRS's new regulations on DeFi spark major controversy!

- IRS announces new regulations requiring DeFi to comply with KYC, treating these protocols as brokers.

- Many legal experts argue that the IRS is overstepping its authority and violating constitutional rights.

- Jake Chervinsky calls this the "last breath of the anti-crypto faction" and urges the courts or new administration to overturn it.

- Alexander Grieve believes the new pro-crypto Congress could reverse this regulation through CRA.

- Miles Jennings from a16z Crypto criticizes this regulation as an excessive expansion of the concept of "conducting transactions".

- Blockchain Association is ready to take strong action to protect the U.S. crypto industry.

What do you think about this move by the IRS? Share your thoughts! 💬