FreedomWorks Statement in Response to Treasury and IRS Cryptocurrency Proposal

WASHINGTON, D.C. — In response to the recent proposal by the Treasury Department to give the Internal Revenue Service (IRS) greater regulatory authority over cryptocurrencies regarding tax collection, Adam Brandon, FreedomWorks President, commented:

“Let’s be clear, the IRS is a predatory institution that scrutinizes Americans’ checkbooks on an often arbitrary basis. One must only look back to the Obama administration for proof that the IRS is politically motivated as well.

“In the case of cryptocurrency, there is no reason whatsoever the IRS should have greater regulatory authority. Americans are open to cryptocurrencies because they are a freer alternative to the increasingly weak U.S. dollar. For the Treasury and the IRS to say that this is in the interest of preventing illicit activity is absurd — criminals across the world already deal in USD.”

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