Coin Center takes US Treasury to court over alleged financial spying

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Coin Center takes US Treasury to court over alleged financial spying

Coin Center filed a lawsuit against the Treasury Department in federal district court — challenging the enforcement of Section 6050I’s reporting mandate.

Coin Center takes US Treasury to court over alleged financial spying

Coin Center, a Washingon, DC-based non-profit blockchain advocacy group, filed a lawsuit against the United States Department of the Treasury for allegedly provisioning an unconstitutional amendment in the controversial infrastructure bill.

Coin Center lawsuit information about plaintiffs and defendants. Source: Case: 5:22-cv-00149-KKC

In an official announcement, Coin Center revealed the filing of a suit against the Treasury Department in federal district court — challenging the enforcement of Section 6050I’s reporting mandate within the Infrastructure Investment and Jobs Act. The lawsuit read:

Further investigations revealed the regulators’ concerns around user protection across the decentralized finance (DeFi), stablecoins, decentralized autonomous organizations (DAOs) and crypto exchanges ecosystems.

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