Rep. Tim Moore Blasts Biden IRS Rules on Digital Assets

Opposition to Biden Administration's IRS Rule

• 🎯 Rep. Tim Moore strongly supports House Joint Resolution 25, which aims to overturn a Biden Administration IRS rule concerning digital assets.
• 💡 The rule, finalized last December, would require decentralized platforms to report user data to the IRS for digital asset transactions.
• ⚠️ Moore argues this rule goes far beyond what Congress ever intended and places impossible burdens on software developers.

Impact on Innovation and American Leadership

• 🚀 The proposed IRS rule threatens American leadership in digital asset innovation.
• 📉 It is predicted to drive entrepreneurs and investors overseas, putting American companies at a disadvantage.
• 🚫 Moore criticizes these as Biden-era policies that crush innovation.

Support for House Joint Resolution 25

• ✅ House Joint Resolution 25 is supported by over 117 industry leaders, including the Blockchain Association, Coinbase, and the Crypto Council for Innovation.
• 🔑 The resolution seeks to repeal the harmful IRS rule and allow Congress to develop a targeted, common-sense framework.
• ⚖️ This framework aims to protect both consumer privacy and American innovation.
• 🗣️ Moore urges colleagues to support the resolution to empower innovation, not stifle it, keeping America competitive.