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ANALYSIS
As the federal government pushes to regulate illicit activity in the cryptocurrency market, their attempts to treat the blockchain-powered currency like fiat currency is causing privacy worries.
July 06, 2022 at 11:30 AM
4 minute read
Cryptocurrency
Legal Tech Reporter
The Biden administration’s intentions to crack down on illicit activities across the blockchain-powered digital asset space are no secret—but they are facing judicial pushback.
Recently, Coin Center, a nonprofit that focuses on policy related to cryptocurrency, filed a lawsuit against the U.S. Treasury Department and the Internal Revenue Service (IRS) claiming that a new reporting requirement in the $1.2 trillion Infrastructure Investment and Jobs Act passed in November 2021 is “unconstitutional.”
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