The American cryptocurrency lobbying group (Blockchain Association) recently announced on social media that it has filed a lawsuit against the IRS and the Treasury Department. The reason is that the new rules they introduced expanded the definition of 'broker' to include providers at the front end of decentralized finance (DeFi) transactions. 🤔

This move is seen as exceeding statutory authority and may infringe on the privacy rights of individuals using decentralized technology. Furthermore, such regulations could force emerging technologies to move overseas, impacting the competitiveness of the U.S. in the blockchain field. 🌍

Currently, the market is responding variably, and investors and practitioners need to closely monitor developments. 📈