A16z Crypto opposes the new regulations from the U.S. Department of the Treasury and IRS regarding broker reporting, arguing that it threatens the innovation of decentralized finance (DeFi) in the U.S. 🏛️

- Michele Korver, head of regulation at A16z Crypto, criticized the rushed decision-making process, which could undermine the potential of DeFi to provide effective and accessible financial services.

- A16z supports the lawsuit from the DeFi Education Fund and other organizations to block these regulations, arguing that it violates the Administrative Procedure Act and exceeds the authority of the Department of the Treasury.

- Jake Chervinsky from the Blockchain Association also expressed optimism about the industry's ability to push back against excessive regulation.