Posted 11/15/2023, 10:04:00 PM
Treasury Crypto Rules Seen as Overreach, Undermining Congressional Intent
- The "broker" definition in the Infrastructure Act was too broad, capturing crypto entities not acting as brokers.
- Treasury's updated broker definition ignores Congress' intent, threatening the crypto industry.
- Courts have recently limited agencies' power, saying Congress should make key decisions.
- Tit-for-tat governance between parties undermines rule of law.
- Congress should restrain agencies' power and restore democratic rulemaking.