Broad, Ambiguous, or Delegated: Constitutional Infirmities of the Bank Secrecy Act
The Bank Secrecy Act (BSA) allows the Secretary of the Treasury to demand transaction surveillance and reports of personal information from a category of entities defined as “financial institutions.” Originally...
There’s a centuries-old standard that tells us when regulation of crypto is justified
We explain in a comment letter on the IRS’s proposed broker rules, but the standard applies well beyond
Today Coin Center submitted a comment letter in the Treasury Department’s ongoing rulemaking on the definition of “broker” for third-party tax reporting purposes. In brief, we argue that the definition...
A direct download of this comment is available here. To whom it may concern: Coin Center is an independent nonprofit research and advocacy center focused on the public policy issues...
Amicus brief in case relating to IRS John Doe summons on exchanges
Coin Center's submitted this brief in support of James Harper in his case against the IRS. A direct download of this brief is available here.
A Simple Legislative Fix to Complicated Tax Rules for Personal Cryptocurrency Transactions
Congress should Create a De Minimis Exemption for Personal Cryptocurrency Transactions
Existing rules for the taxation of cryptocurrency can make even the simplest of transactions a confusing ordeal to track, record, and report. A legislative fix is needed for everyday transactions,...
Our comments in the new rulemaking will warn that the courts will not look favorably upon such an attempt to expand surveillance on Americans
Late last month the Treasury Department published a proposed regulation to define when a person in crypto qualifies as a “broker” under the tax code and therefore must collect personal...
New Tornado Cash indictments seem to run counter to FinCEN guidance
Our initial thoughts on a case that could potentially criminalize the publication of software code
Roman Storm and Roman Semenov have been indicted for, among other charges, conspiracy to operate an unlicensed money transmitting business. We don't have all the facts but at first blush...
Coin Center Suggestions to Address Uncertain Tax Treatment of Digital Assets
In Response to a Request for Feedback from Senate Finance Committee Chairman Ron Wyden and Finance Committee Ranking Member Mike Crapo
A direct download of this letter is available here. Dear Chairman Wyden and Ranking Member Crapo, Based in Washington, D.C., Coin Center is the leading non-profit research and advocacy center...
When does a sanction become a seizure? Lessons from the KindHearts case
Why Americans with funds locked in Tornado Cash smart contracts may have constitutional grounds to challenge in court.
While researching case law for our Tornado Cash challenge I came across a very interesting holding, KindHearts v. Geithner, that deals with the intersection of the Office of Foreign Assets...
The CANSEE Act is a messy, arbitrary, and unconstitutional approach to DeFi
It is effectively a ban on decentralized software development that cedes an innovative sector to the rest of the world
Yesterday Senators Reed, Rounds, Warner, and Romney introduced the Crypto-Asset National Security Enhancement (CANSEE) Act in the Senate. This bill comes as a surprise as it was apparently developed without...