DeFi Education Fund Challenges IRS New Tax Rules in Court – BitRss

The DeFi Education Fund has filed a lawsuit against the Internal Revenue Service (IRS) due to new tax regulations that impact the cryptocurrency market significantly. The fund argues that the IRS hastily developed these regulations, which hinder innovation and impose unjust burdens on developers. The lawsuit claims that these regulations exceed legal boundaries.

Strong Reactions to New Tax Regulations

The DeFi Education Fund contends that the IRS’s new tax rules violate the Administrative Procedure Act. The legal documents argue that software developers are being unfairly burdened with responsibilities. It states, “Developers offering so-called trading front-end services are being illegally obligated by these rules.”

The fund emphasized that these regulations would create significant economic burdens for both companies and individuals. Documents submitted to the court highlight that the IRS implemented these rules without considering public warnings. Statements indicate that these rules would particularly negatively affect innovative projects and American entrepreneurs.

In response to severe public criticism regarding cryptocurrency regulations, IRS officials have s…