Coin Center Files Lawsuit Against Treasury Over 'Unconstitutional' Tax Provision
CryptoNewsTerminal Staff19 Aug, 2024
Coin Center Files Lawsuit Against Treasury Over 'Unconstitutional' Tax Provision
Coin Center, a crypto research non-profit, is challenging a tax provision in court again. This provision would mandate the reporting of specific crypto transactions to the Internal Revenue Service (IRS). The lawsuit was revived by the U.S. 6th Circuit Court of Appeals, reversing a lower court's dismissal. Coin Center had previously filed a lawsuit in 2021 against the Treasury and IRS, claiming that the infrastructure act signed into law that year violated constitutional rights. The act requires U.S. taxpayers with crypto income exceeding $10,000 to provide the IRS with personal information such as their name, Social Security number, and home address. Coin Center argues that the provision is unconstitutional because it violates the Fourth Amendment's protection against unreasonable searches and seizures and the Fifth Amendment's protection against self-incrimination.
