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It’s time to have the conversation: Is the Bank Secrecy Act unconstitutional?
Today we’re publishing another report on the Bank Secrecy Act (BSA) entitled “Broad, Ambiguous, or Delegated: Constitutional Infirmities of the Bank Secrecy Act.” In our 2019 report, “Electronic Cash, Decentralized...
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
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
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,...
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
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
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
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...