Representatives of major crypto exchanges today told the United States Internal Revenue Service that they want to see clear regulations rather than vague suspicion from the tax authority.

In a March 3 panel that is a continuation of a broader crypto summit at the IRS building in Washington, D.C., representatives from Coinbase, Kraken, and major accounting firm RSM US LLP argued that the crypto world had experienced outsized scrutiny from regulators compared to its size and darkness.

U.S. crypto exchanges say they aren’t that scary

The representatives from Coinbase — head of global tax information reporting Sulolit Mukherjee — and Kraken — head of global tax Lisa Askenazy Felix — both said that the industry had seen more scrutiny than was merited.

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by Kollen Post - March 3, 2020 - Cointelegraph