Coinbase CEO Brian Armstrong – Proposed Crypto Tax Rule Makes no Sense

Glad to see people calling this ridiculousness out as the tripe it is

Coinbase CEO Brian Armstrong says proposed crypto tax rule makes no sense

“‘This makes no sense,’ Armstrong tweeted, referring to the broad broker definition in the bill, adding, ‘Smart contracts, for instance, are not companies, and cannot be modified to collect KYC info or issue 1099s. They are simply software running on the blockchain that anyone can use.’

The Coinbase CEO stated that policymakers have a responsibility not to hinder innovation in America. Earlier in August, Galaxy Digital CEO Mike Novogratz panned politicians and regulators in the U.S. for failing to do their homework on crypto before enacting laws and regulations.”


Master Asked on August 5, 2021 in Cryptocurrency.
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