{"id":62828,"date":"2022-06-13T14:26:19","date_gmt":"2022-06-13T11:26:19","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=62828"},"modified":"2025-09-05T20:18:50","modified_gmt":"2025-09-05T17:18:50","slug":"coin-center-sues-u-s-treasury-and-irs","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/coin-center-sues-u-s-treasury-and-irs\/","title":{"rendered":"Coin Center sues U.S. Treasury and IRS"},"content":{"rendered":"

Coin Center, a nonprofit organization promoting and defending the interests of the industry, \u043f\u043e\u0434\u0430\u043b\u0430 \u0438\u0441\u043a<\/a> against the U.S. Treasury and the Internal Revenue Service over an unconstitutional tax-reporting requirement for cryptocurrency holders.<\/p>\n

The complaint concerns an amendment to the Infrastructure Investment and Jobs Act, adopted in the summer of 2021. It requires individuals and entities receiving cryptocurrency transactions of $10,000 or more to report to authorities not only the sender’s name but also the date of birth and Social Security number.<\/p>\n

The amendment also applies to NFT sellers and nonprofit organizations receiving anonymous donations.<\/p>\n

Coin Center says the requirement would give ‘the government an unprecedented level of transaction detail, far beyond its authority’.<\/p>\n

\n

‘If the amendment is allowed to take effect, it would usher in a regime of mass surveillance of ordinary Americans,’ the lawsuit says.<\/p>\n<\/blockquote>\n

The organization added that they intend to defend people’s rights to the ‘private use of cryptocurrency networks.’<\/p>\n

In April, Coin Center SEC<\/span><\/a> called the initiative to change the term ‘exchange’ unconstitutional.<\/p>\n

In March, members said that the proposed FinCEN<\/span> rules regulating cryptocurrency transactions ‘threaten innovation and privacy’<\/a>.<\/p>\n

\n
\n