PANews reported on January 18 that 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 seen not only 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 drawn heavy criticism from the cryptocurrency industry, which has decried it as an arbitrary expansion of the term "broker." This overreach misrepresents the decentralized nature of these platforms, stifles innovation, and penalizes those who dare to challenge the legacy system. In December, three advocacy groups filed a lawsuit against the regulation, exposing its heavy compliance burden.
