Vote No on blockchain tax law regulations
I am writing to express profound concerns regarding the proposed IRS rule defining “broker” within the digital asset industry.
As written, the rule’s broad definition of “broker” would include numerous actors within the digital asset industry that in no way fit the traditional understanding of the term. The inclusion of certain decentralized platforms betrays a misunderstanding of how peer-to-peer networks function and would create unmeetable burdens for innovative platforms that empower individuals, families and businesses across the country.
This rule will force decentralized platforms to centralize operations, restrict much needed innovation and threaten economic growth by forcing digital asset providers overseas. This rule will put the IRS directly into user wallets and threaten the privacy and security of law-abiding Americans. Finally, this rule will devastate U.S. global competitiveness in innovation.
I urge you to withdraw this misguided rule.
[Sign Your Name]
Thank you again for your dedication to preserving digital wallet privacy and advocating for the digital asset community.
[Your Name / Organization Name]