According to Cointelegraph, the new regulation announced by the IRS on December 27 treats several DeFi protocols as brokers, requiring them to disclose client transaction information. This regulation could affect up to 875 DeFi brokers. The new rule has sparked widespread opposition on social media, with many legal experts believing the IRS may be overstepping its authority and infringing on constitutional rights. Variant's Chief Legal Officer Jake Chervinsky called this regulation the last struggle of anti-crypto forces, which needs to be overturned by the courts or a new government. Paradigm Vice President Alexander Grieve stated that the new pro-crypto Congress should use the CRA process to repeal these regulations. The CRA allows Congress to review and potentially veto regulations issued by agencies such as the IRS. a16z Crypto's General Counsel Miles Jennings said this regulation is an overextension of the term 'facilitating transactions,' aimed at banning DeFi. TaxBit's Director of Government Solutions Miles Fuller pointed out that verification services and wallet software providers are excluded from the definition. The Blockchain Association claims this regulation is the last attempt to push the U.S. crypto industry overseas. Association CEO Kristin Smith stated that the industry will take proactive actions to fight back and looks forward to working with the new pro-crypto Congress and government to repeal this regulation and other anti-innovation laws. The IRS expects the new regulation to affect up to 2.6 million taxpayers.