Wu said that a16z Crypto's regulatory head Michele Korver tweeted that the U.S. Treasury released new broker reporting rules yesterday, posing a direct threat to the vision of DeFi and undermining the future of DeFi innovation in the U.S. a16z Crypto supports the lawsuit filed by the Blockchain Association, DeFi Education Fund, and Texas Blockchain Council, as the IRS and Treasury have exceeded their statutory authority, violated the Administrative Procedure Act (APA), and are unconstitutional. DeFi builders should have confidence that industry lawyers are working hard to protect this technology.