Coinbase launches “Stand With Crypto” initiative to fight IRS proposed crypto tax law

Coinbase launches "Stand With Crypto" initiative to combat the collection of transaction information involved in the Internal Revenue Service's (IRS) proposed crypto tax law. Relevant web pages show that encryption advocates have donated more than 2 million US dollars, advocated more than 100,000 people, and contacted Congress more than 16,000 times. This page also provides a fundraising channel. Currently, the top three donations are barmstrong.eth ($11,584.05), wwarren.eth ($10,047.84), and bleznak.eth ($8,806.03). Previously, Coinbase sent a 14-page letter to the IRS expressing serious concerns about the nature and scope of its proposed tax regulations. Coinbase said: “We have long advocated for a tax system that treats digital assets the same as traditional financial assets, and the proposed regulations will impose unprecedented, unfettered and unrestricted tracking of Americans’ daily lives. , would allow the government to oversee the most personal health care decisions Americans make, even buying a cup of coffee."