DeFi Education Fund Sues US IRS Over Controversial Tax Rules

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DeFi Education Fund Sues US IRS Over Controversial Tax Rules - CoinGape

Quick Summary:

Crypto industry advocacy group, the DeFi Education Fund has filed a lawsuit against the US IRS barely 24 hours after it released its controversial tax framework.

Despite claims that the agency finalized the regulation months ago, the DeFi Education Fund tagged it a “midnight” rulemaking.

This way, the outfits will need to provide these details on demand to the IRS with users advised to fill Form 1099 for tax reporting purposes.