This chapter discusses the potential consequences of a new interpretation on the future of DeFi in the US, including the need for identification and regulation compliance, which could hinder the growth of permissionless finance. Listeners are urged to voice their concerns on protectdefi.org to push back the proposed deadline.
We need to stop the US from killing crypto. The new IRS proposals could effectively destroy DeFi and other crypto use cases.
The good news? We can change this. 5 minutes is all it takes to leave a comment and get the interpretation delayed.
In this episode, we bring on Miller Whitehouse-Levine of the DeFi Education Fund and tax lawyer Jason Schwartz to discuss the proposed rules and their catastrophic implications.
0:00 Intro 6:30 Miller and Jason 8:15 The Broker Laws 15:30 Proposed Regulation 20:50 Endgame Oversight 26:00 They Hate Crypto 31:00 The Comment Process 36:40 New Crypto Tax Tools 42:00 So What Happens… 46:30 Pressuring the Departments 50:50 How We Can Win 56:20 What We Have to Do