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Jerry Brito
917 posts
Jerry Brito
@jerrybrito
Spectator.
New crypto tax reporting obligations took effect on Jan 1. If you receive $10k or more in crypto you now have an obligation to report the transaction (including names, addresses, SS numbers, etc.) to the IRS within 15 days under threat of a felony charge.
- OK, I read it. Here’s my quick take on the executive order.
- 1/ Today Coin Center filed suit in federal district court against OFAC challenging its authority to sanction Tornado Cash immutable smart contracts.
- We sent a reponse letter to Sen. Warren's demand that Coin Center disclose if we employ former federal officials "to undermine bipartisan efforts in Congress"
- Here is Coin Center's new, full analysis of the Tornado Cash action by OFAC. Bottom line: We believe that OFAC has overstepped its legal authority and are exploring a court challenge.
- Replying to @jerrybritoThe message I take from this EO is that the federal government sees cryptocurrency as a legitimate, serious, and important part of the economy and society, and I think it’s a good signal to serious people who’ve been holding back from getting involved.
- Coin Center received the same impertinent letter from Elizabeth Warren as the BA and Coinbase. Read it for yourself to see what a bullying publicity stunt it is.
- Today Coin Center filed suit in federal district court against the Treasury Department in a facial constitutional challenge to the amendment of Section 6050I of the Tax Code that was part of the Infrastructure Investment and Jobs Act passed last summer.
- Why do people think making Bitcoin legal tender will do anything?
- Replying to @jerrybritoWell, the EO is just further affirmation that when serious officials take a sober look at crypto, the reaction is not to light their hair on fire, but instead to recognize it as a innovation that the U.S. will want to foster and lead while mitigating obvious risks.
- Today’s action does not seem so much as a sanction against a person or entity with agency. It appears instead to be the sanctioning of a tool that is neutral in character and that can be put to good or bad uses like any other technology.
- Replying to @jerrybritoSo, Coin Center looks forward to engaging with the various agencies now tasked with studying and planning on the issues we’ve spent nearly a decade working on, as well as engaging with thought legislative proposal from serious leaders in Congress.
