The IRS is wrong. New cryptocurrency tokens from staking are not taxable income. Congress can and should fix the tax code to make this clear. Keep taxation fair -- end overtaxation and the compliance nightmare. My latest in @taxnotes –

Huge thank you to our co-plaintiffs against the Tornado Cash sanctions. They are heroes for standing up and building a broad case against OFAC: @TrustlessState who got dusted and said bring it on; Developer Patrick O'Sullivan who simply hoped to get paid his salary with privacy;

If you work in crypto, take time to read the complaint in Lewellen v. Garland -- https://t.co/prSiBBUYCt

The crime of "money transmitting" is not what Biden's Justice Department says it is. Time to straighten this out.

Today, I’m taking a stand against the Biden administration’s unjust crackdown on crypto development. I’ve filed a lawsuit against the DOJ to challenge their flawed and unjust interpretation of the law. My work on Pharos—a non-custodial protocol for public goods

🚨Congratulations to Reps @RepDrewFerguson and @WileyNickel for championing a critical & common-sense clarification of existing tax law to ensure tax fairness for millions of stakers (and miners!). Today they introduced a bill that would affirm what @TeamPOSA has known for years

Sensible taxation of cryptocurrency.

Tax code 6050I report with @TeamPOSA also here: https://t.co/hHrM1cAcIJ

I address tax code section 6050I's apparent consequences for DeFi and NFTs here: https://t.co/jKtDOXCQaN

To help explain how tax code section 6050I will (and won't) work for "digital assets," I use examples involving physical cash in this article: https://t.co/2rBQY0zAub

In short, the federal statute requires you to report the sender's social security number to the IRS if: 1. You receive​ 2. In the course of your regular gain-seeking activities 3. Digital assets 4. Having a value exceeding the legal threshold; and 5. No exception applies.

Reporting "digital asset" receipts under tax code section 6050I -- I walk through the elements of the statute in this article, https://t.co/8IIMnmd14T

Here is our complaint @coincenter explaining why the amended 6050I is unconstitutional. This case is currently on appeal on a threshold question. https://t.co/56ph1D8kDq

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.

We applaud @PatrickMcHenry, @RepRitchie, et al for the Keep Innovation in America Act, which fixes the definition of “broker” in the IIJA, as well as resolves the critical 6050i provision

The Jarretts deserve their day in court and to have their arguments heard on the merits. If the IRS is right on the law, then a district court would find for it. This case matters to every US taxpayer who wants to participate in crypto through staking. H/T @abesutherland

Staking "Income" Should Not be Taxed -

Newly created property is never taxable income. Only taxpayer gains should be taxed. It would be doubly tragic if the first-ever breach of the first principle guaranteed the violation of the second principle as well.

Again with @ConMcPLLC, glad to represent Coin Center in its lawsuit against OFAC

With @ConMcPLLC, glad to be representing Coin Center and others harmed by Congress's amendment to Tax Code s. 6050I, an unconstitutional burden on cryptocurrency users