Crypto lobbying group Blockchain Association files lawsuit over IRS 'DeFi broker' rules

PANews reported on December 28 that the U.S. cryptocurrency lobby group (Blockchain Association) tweeted that it had filed a lawsuit against the new "broker" regulations passed by the IRS and the Treasury Department. The IRS and Treasury Department have exceeded their statutory authority and expanded the definition of “broker” to include providers of DeFi transaction front-ends, even though they do not execute transactions. This not only violates the privacy rights of individuals using decentralized technology, but also pushes the entire booming technology overseas.