Coin Center
Recent News About Coin Center
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Coin Center has announced two significant victories in its ongoing efforts to protect the rights of cryptocurrency developers and users. The organization successfully appealed a case against the Treasury Department's 6050I reporting scheme, and the IRS released a new draft tax reporting form for cryptocurrency brokers that omits the controversial "unhosted wallet provider" designation.
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The Virtual Currency Tax Fairness Act was introduced by Senator Ted Budd and cosponsored by Senators Kyrsten Sinema, Kirsten Gillibrand, and Cynthia Lummis. The bill proposes a de minimis exemption from capital gains tax for low-value cryptocurrency transactions in everyday use.
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A version of the Terrorist Finance Prevention Act (TFPA) has been attached to a must-pass intelligence authorization bill in the Senate. The TFPA requires the President to implement significant secondary sanctions against individuals in the crypto space involved with terrorist financing. These sanctions could apply to regulated financial institutions, such as custodial exchanges, and non-custodial entities referred to as "foreign digital asset transaction facilitators."
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In a recent development, an amicus curiae has stepped forward in support of Roman Storm's Motion to Dismiss. The document, titled "Amicus Curiae In Support of Roman Storm’s Motion to Dismiss," was released on April 5, 2024.
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Coin Center, a leading nonprofit focused on the policy issues facing cryptocurrencies and decentralized technologies, has filed an amicus brief in defense of the Tornado Cash developer, Roman Storm. The brief, submitted in the Southern District of New York, aims to provide clarity on the nature of Tornado Cash and the legal implications surrounding its use.According to Coin Center, the prosecution's description of Tornado Cash has been vague and prejudicial. In their brief, Coin Center states, "We help the court cut through the vague and prejudicial description of Tornado...