Blockchain Association opposes proposed IRS tax rules
Fundamental misunderstandings about the nature of digital assets and decentralized technology.
Concerns on Decentralized technology and privacy rights cited Kristin Smith, the CEO of the Blockchain Association, emphasized the need for the Treasury Department to take additional time to comprehend the potential damage and impracticality of the expanded broker definition on developers of decentralized technology in the U.S.
Not only that, but Treasury’s proposal constitutes an infringement on the privacy rights of individuals using decentralized technology.
