Crypto lobby group Blockchain Association files lawsuit against IRS over “DeFi broker” rules

the Blockchain Association, a US cryptocurrency lobbying group, has filed a lawsuit against the new "broker" regulations passed by the US Internal Revenue Service and Treasury Department. The IRS and Treasury Department have exceeded their statutory authority by expanding 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 emerging technologies overseas.