<ul><li>On December 27, 2024, the DeFi Education Fund, the Blockchain Association, and the Texas Blockchain Council filed a lawsuit challenging the IRS and Treasury Department's final 'broker' rulemaking.</li><li>The rule expands the definition of 'broker' to include providers of DeFi trading front-ends, putting compliance burdens on software developers.</li><li>The plaintiffs argue that the rule exceeds agencies' authority, violates the Administrative Procedure Act, and is unconstitutional.</li><li>They believe the rule will stifle innovation, push decentralized finance technology offshore, and threaten US competitiveness in the digital economy.</li></ul>

Blockchain Groups Sue Over IRS “Broker” Rulemaking

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