Senator Ted Cruz plans to challenge IRS crypto tax rules
Texas Senator Ted Cruz is opposing new IRS crypto tax rules, which have been welcomed by the crypto community. He plans to use the Congressional Review Act (CRA) to challenge a regulation that requires crypto brokers to report extensive income from digital assets. Critics believe this rule misinterprets the term “broker” and does not consider the decentralized nature of blockchain technology. The IRS rule was part of the 2021 infrastructure