According to News.bitcoin, Republican Senator Ted Cruz from Texas plans to use the Congressional Review Act (CRA) next week to challenge a tax regulation that infringes on the rights of cryptocurrency brokers. This move is not only seen as a procedural strategy, but also as a principled stance against the expansion of government power into the fields of free enterprise and technological innovation.
The regulation has sparked severe criticism from the cryptocurrency industry, who condemn it for arbitrarily expanding the scope of the term 'broker'. This excessive expansion distorts the decentralized nature of these platforms, stifles the spirit of innovation, and punishes those who dare to challenge traditional systems. In December, three advocacy organizations filed a lawsuit against the regulation, exposing its heavy compliance burden.
