Blockchain Association CEO Kristin Smith Statement on Proposed IRS Rules

Washington, D.C. (August 25, 2023) – The following statement is attributed to Blockchain Association CEO Kristin Smith: 

“It’s critical to ensure that participants transacting with digital assets pay their taxes. If done correctly, these rules could help provide everyday crypto users with the necessary information to accurately comply with tax laws. However, it’s important to remember that the crypto ecosystem is very different from that of traditional assets, so the rules must be tailored accordingly and not capture ecosystem participants that don’t have a pathway to compliance. 

“Blockchain Association and its members are eager to provide comments and feedback on these rules to ensure that the final product is workable and encourages innovation here in the United States.”