The IRS's proposed broker rule for digital assets has sparked concerns in the crypto community. Peter Van Valkenburgh from CoinCenter has raised alarms, questioning its impact on user privacy and security. He also doubts the enforceability of the rules and raises concerns about potential violations of First Amendment rights. The rule aims to ensure tax compliance on DeFi earnings, prompting discussions on making DeFi users accountable to tax obligations. Treasury Secretary Janet Yellen has also announced regulation advancements for digital assets.
💵 Given the IRS’s broker rule aims to ensure tax compliance on DeFi earnings, what is @valkenburgh's take on making DeFi degens accountable to tax obligations? Listen to @unchained_pod 👇 Spotify 🎧 https://t.co/6q3yBMqTCJ 🔗 https://t.co/m0zkg50o3v https://t.co/XxyGpx584K
🗨️ Could the IRS’s latest broker proposal be a violation of First Amendment rights? 🔍 @coincenter's @valkenburgh voices his concern. Listen to @unchained_podcast 👇 Spotify 🎧 https://t.co/QdUWGaoqYc Apple 🎧 https://t.co/XRW9yHlvct 🔗 https://t.co/xVZMRgIhIL https://t.co/OLvaXgVU7h
"These rules won't be able to be enforced," @coincenter's @valkenburgh says about the controversial IRS tax broker proposal. Watch him explain why as part of #TaxWeek, presented by @TaxBit: https://t.co/UOkmo35qP2 https://t.co/rTZLJCDv31
#US Treasury Secretary Janet #Yellen Acknowledges Digital Assets' Potential, Announces Regulation Advancements for #APEC https://t.co/A9lI9XtqD0
💰 Assuming the goal of the IRS’s proposed broker rule is to make sure that Americans pay taxes on their DeFi gains, how would @valkenburgh propose the IRS ensure DeFi degens pay Uncle Sam? Full episode: https://t.co/Tvg0FeXw5B https://t.co/N86t44WOXN
One of the largest developments affecting the digital asset industry this year comes from a sleepy corner of the tax law. Here we discuss the IRS' proposed digital asset reporting regulations. Opinion @SteptoeLLP for #TaxWeek, presented by @TaxBit https://t.co/bl8WJbDpz6
🔗 @valkenburgh of @CoinCenter raises alarms on the IRS’s proposed broker rule. 🗣️ Is this a breach of the First Amendment? Full episode: https://t.co/Tvg0FeWYg3 https://t.co/GaSYFgyJc2
🎙️ @valkenburgh from @CoinCenter joins @unchained_pod to delve into the proposed broker rule by the IRS, which has the crypto community up in arms. 🚨 Is the proposed broker definition overreaching? 😳 How would it impact user privacy and security? 🤔 Is the Bank Secrecy Act a… https://t.co/P3QRVCB0Ci