Cynthia Lummis: "IRS DeFi Broker Regulations Result from Misunderstanding Decentralized Technology"
JH Kim
Summary
- Senator Cynthia Lummis stated that the IRS's DeFi broker regulations misunderstand how decentralized technology works.
- She emphasized that these coercive federal regulations will drive American cryptocurrency entrepreneurs overseas.
- She indicated that DeFi regulations will negatively impact the cryptocurrency industry environment in the United States.
Pro-cryptocurrency U.S. Senator Cynthia Lummis stated on the 4th (local time) via X (formerly Twitter) that "the IRS's DeFi broker regulations fundamentally misunderstand how decentralized technology works."
She emphasized that "these coercive federal regulations will drive American cryptocurrency entrepreneurs overseas."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.