This op-ed is part of CoinDesk’s Tax Week, presented by TaxBit. Kristin Smith is CEO of Blockchain Association. Miller Whitehouse-Levine is CEO of the DeFi Education Fund.
The long-running scramble for control between America’s administrative agencies and our elected representatives passed another important milestone this week.
As the U.S. Treasury Department prepares to finalize a new, expanded definition of who it considers to be a “broker” subject to tax reporting obligations, Congress has yet another opportunity to show renewed vigor in its efforts to set clearer rules across many aspects of our lives touched by regulation, and reign in the metastasizing power of administrative agencies.