A16z Crypto, led by Michele Korver, alongside other entities like the Blockchain Association and Uniswap’s Hayden Adams, strongly oppose the IRS’s new broker rule. This regulation is considered overreaching, potentially threatening DeFi innovation and prompting operations to move offshore.
With the legal expertise backing them, the crypto industry, represented by significant figures like Jake Chervinsky, pushes against the rule, highlighting its unconstitutionality and potential detrimental effects on DeFi. Efforts include court proceedings and advocating through Congress.