Three major crypto advocacy groups have filed a lawsuit against the IRS, challenging the classification of DeFi platforms as brokers under new regulations. This decision has ignited controversy, drawing sharp criticism from various lawmakers who argue it could hinder the growth and innovation within the DeFi space.
The advocacy groups believe that this classification is a misinterpretation and could have significant implications for decentralized finance projects. The legal action signifies a strong pushback from the crypto community against regulatory moves they see as potentially damaging to the industry.
