Crypto research firm Coin Center said on Saturday it has filed a lawsuit against the U.S. Treasury Department over “unconstitutional” tax laws.
The suit pertains to the Infrastructure Investment and Jobs Act passed last year, a $1.2 trillion spending bill that intended to improve infrastructure and stimulate economic growth.
Specifically, Coin Center alleges that a tax provision in the bill encourages financial surveillance of crypto users. This provision, according to the firm, violates the civil liberties of crypto users by requiring them to report certain personal data to the government.
The provision will take effect in 2024. Treasury chair Janet Yellen and the Internal Revenue Service are named as defendants in the case.
Coin Center calls tax provision unconstitutional
The Washington-based non profit organization said in a blog post that the tax provision, number 60501, requires all entities that receive over $10,000 in crypto to report the sender’s name, birth date and Social Security number to the government.
