Oct. 14, 2023
Dear Internal Revenue Service and Treasury Department, I am writing to provide feedback on the proposed regulations discussed in the PDF document titled "Gross Proceeds and Basis Reporting by Brokers and Determination of Amount Realized and Basis for Digital Asset Transactions." I have summarized the key points as outlined in the document. I would like to raise my concerns regarding the following topics: lack of education for the public concerning freedom of speech and the right of movement. Firstly, I appreciate the effort made in proposing regulations that address information reporting and the determination of amount realized and basis for certain digital asset sales and exchanges. It is important to ensure transparency and accountability within the digital asset market. However, I feel that there is a significant lack of education for the public in relation to the proposed regulations. Many individuals may not fully understand the implications and requirements outlined in the document. It is crucial to provide clear and accessible information to ensure that people are aware of their rights and obligations. Specifically, I believe more guidance should be provided in regards to the freedom of speech and the right of movement. Digital assets have increasingly become vehicles for expression and means of financial empowerment. It is essential to protect and promote these fundamental human rights while developing regulations in this area. Moreover, the proposed regulations should strive to strike a balance between fostering innovation and protecting consumers. The digital asset market is evolving rapidly, and it is important to be mindful of the potential impact these regulations may have on the industry. Flexibility and adaptability should be considered to avoid stifling innovation. In conclusion, I urge the Internal Revenue Service and the Treasury Department to prioritize public education, specifically concerning freedom of speech and the right of movement, in relation to the proposed regulations. Clarity, accessibility, and transparent communication are essential in ensuring that individuals are properly informed and empowered in their digital asset transactions. Thank you for your attention to these matters. I hope that my comments will contribute to the ongoing dialogue surrounding the regulation of digital assets. Sincerely, Paul Sent from Proton Mail