Abraham Sutherland retweeted
Huge thank you to our co-plaintiffs against the Tornado Cash sanctions. They are heroes for standing up and building a broad case against OFAC: @TrustlessState who got dusted and said bring it on; Developer Patrick O'Sullivan who simply hoped to get paid his salary with privacy; and our John Doe who supported the defense of Ukraine on chain while dodging GRU countermeasures.
Abraham Sutherland retweeted
Today, I’m taking a stand against the Biden administration’s unjust crackdown on crypto development. I’ve filed a lawsuit against the DOJ to challenge their flawed and unjust interpretation of the law.
My work on Pharos—a non-custodial protocol for public goods fundraising—reflects the kind of innovation that many in the crypto space are striving for. It’s a tool for trustless and transparent crowdfunding, empowering users without intermediaries.
Yet developers like me are facing baseless legal risks. The DOJ’s broad interpretation of money transmission laws threatens the ability to build freely. This isn’t just about Pharos; it’s about the future of cryptocurrency innovation in America.
This lawsuit is about ensuring innovators can create without fear and that laws aren’t misused to hold back progress. For too long, the Biden administration has used a lack of clarity to scare builders away from new technology or force them to leave the USA. That needs to end.
You can read more about this lawsuit and why it's so important from @CoinCenter, who are supporting me every step of the way.
coincenter.org/coin-center-f…
Abraham Sutherland retweeted
🚨Congratulations to Reps @RepDrewFerguson and @WileyNickel for championing a critical & common-sense clarification of existing tax law to ensure tax fairness for millions of stakers (and miners!). Today they introduced a bill that would affirm what @TeamPOSA has known for years and been fighting for: block rewards should be taxed at the time of sale, not at the time of block creation.
Proud to introduce the bipartisan Providing Tax Clarity for Digital Assets Act with @RepWileyNickel to clarify within the tax code that digital asset rewards are to be collected at the point of sale, while codifying staking rewards as “created property.”
ferguson.house.gov/news/docu…
Abraham Sutherland retweeted
New crypto tax reporting obligations took effect on Jan 1.
If you receive $10k or more in crypto you now have an obligation to report the transaction (including names, addresses, SS numbers, etc.) to the IRS within 15 days under threat of a felony charge.
Abraham Sutherland retweeted
We applaud @PatrickMcHenry, @RepRitchie, et al for the Keep Innovation in America Act, which fixes the definition of “broker” in the IIJA, as well as resolves the critical 6050i provision
#NEW: Chairman @PatrickMcHenry, @RepRitchie, colleagues reintroduce bipartisan legislative fix to digital asset reporting requirements.
The Keep Innovation in America Act provides critical clarification to crypto provision in the #IIJA.
👇 Read more 🔗 financialservices.house.gov/…
Abraham Sutherland retweeted
The Jarretts deserve their day in court and to have their arguments heard on the merits. If the IRS is right on the law, then a district court would find for it.
This case matters to every US taxpayer who wants to participate in crypto through staking.
H/T @abesutherland
ConsenSys shows its support for Jarretts’ efforts to force a tax policy decision. cointelegraph.com/news/conse…
Abraham Sutherland retweeted
Staking "Income" Should Not be Taxed - marginalrevolution.com/margi…
Abraham Sutherland retweeted
And here is the NFT recognizing me as the "founder" of the Law & Aesthetics movement. 🙏 hicetnunc.xyz/objkt/477789
Abraham Sutherland retweeted
Congress should amend the provisions in the infrastructure bill affecting sections 6045 and 6050I of the IRC before they dramatically worsen the lives of the American people in the cryptocurrency industry. cato.org/blog/infrastructure…
Abraham Sutherland retweeted
NEW EPISODE NOW AVAILABLE!
This week's guest: @abesutherland, Founder of Saker Group joins us to dive into: HOW CONGRESS GOT TAX REPORTING LAWS WRONG
Tune in on your favorite podcast app!
linktr.ee/TheEncryptedEconom…
#cryptocurrencies #DigitalAsset #regulation
















