In a letter, a bipartisan group of U.S. House of Representatives members urged the U.S. Dept. of Treasury to revise proposed digital asset reporting regs released last August. The letter said the proposed regs “would inhibit innovation and harm the digital asset ecosystem, if finalized in its current form.” The proposed regs’ definitions of “broker” and “digital asset” were of particular concern. Regarding the former, the definition would “capture entities that do not possess traditional characteristics of a broker,” and the latter, the definition fails to “consider or differentiate the uses or attributes of different types of digital assets.” Read the letter: https://bit.ly/40SjtXE. Contact us with questions. © 2023