Messari founder and other crypto figures protest new cryptocurrency tax regulations

ChainCatcher news, according to Cointelegraph, the crypto community is protesting against the new cryptocurrency tax regulations recently proposed by President Biden. To catch tax evasion among cryptocurrency users, the IRS (Internal Revenue Service) has suggested that brokers follow new rules for the sale and trading of digital assets. Brokers will use a new form to make tax reporting easier and prevent tax evasion.

In response, Messari founder Ryan Selkis believes that if Biden is re-elected, the crypto industry will not thrive in the U.S. Similarly, Chris Perkins, president of the crypto venture capital firm CoinFund, thinks that other countries are already ahead of the U.S., and these rules will inevitably lead to a decrease in innovation flowing into the country. Instead of resorting to harsh crackdowns, it would be better to establish simple and detailed rules that allow the entire cryptocurrency industry to innovate safely.