News COINTELEGRAPH IN YOUR SOCIAL FEEDapproved on Dec. 5 would expand existing reporting requirements to include decentralized exchanges and require brokers to disclose gross proceeds from sales of cryptocurrencies, including information regarding taxpayers involved in the transactions.

During its Feb. 26 committee markup, the House Ways and Means Committee, a key group within the US House of Representatives that deals with financial issues, voted 26 to 16 to pass the resolution.

Source: Ways and Means Committee

In a statement, Miller Whitehouse-Levine, the CEO of DeFi advocacy group the DeFi Education Fund, said the rule is an “unlawful and unconstitutional overreach” and needs to be overturned to “protect Americans’ freedom of choice in how they transact.”

“We urge

Keep reading this article on Cointelegraph.com.

Leave a Reply