Coin Center’s Peter Van Valkenburgh believes that the U.S. Treasury could use the Bank Secrecy Act in a dark way against crypto developers. In this episode of Unchained, Peter Van Valkenburgh, director of research at Coin Center, explains why the IRS's proposed broker rule for tax reporting in crypto could harm the crypto industry as well as the security and privacy of users. He explains how Coin Center thinks the IRS should accomplish its aims, and why that would even work for collecting taxes on DeFi gains. Additionally, Peter explains why he believes the Bank Secrecy Act might be unconstitutional and how that could potentially affect developers building in crypto. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.Show highlights | What does the IRS's proposed broker rule entail for crypto tax reporting and why this could  have a negative impact on the industryWhat responsibilities do brokers in the crypto space now faceWhy the IRS didn’t use Congress's amended language from the infrastructure billWhy Peter argues that the IRS’s new proposed broker rule on crypto is unconstitutional and the principles at stakeThe alternative approaches Peter suggests the IRS could adopt for more effective and fair regulationWhy Peter has concerns for crypto developers about the potential application of the Bank Secrecy ActWhat actions Coin Center is undertaking to advocate for changes in the Bank Secrecy Act to better align with crypto realitiesWhy Coin Center is appealing in its lawsuit against the Treasury Department over the OFAC sanctions on Tornado CashThank you to our sponsors!  Arbitrum Foundation Popcorn NetworkGuest | Peter Van Valkenburgh, director of research at Coin CenterPrevious appearances on Unchained: Why the SEC Is Probing Yuga Labs and Coin Center Is Suing TreasuryHow Coin Center Is Helping Define The 'Big Fuzzy Gray Area' Of Blockchain And Cryptocurrency LawWhy the SEC's Proposed Rules Affecting DeFi Could Violate the First AmendmentLinks | IRS Crypto RegulationCoin Center: Report Electronic Cash, Decentralized Exchange, and the ConstitutionThe Blockchain Association’s letter opposing tax regulations proposed by the IRSCoinDesk: How the Crypto Industry Responded to the IRS Proposed Broker RulePatriot Act California Bankers Assn. v. ShultzBank Secrecy ActCoin Center:Report Broad, Ambiguous, or Delegated: Constitutional Infirmities of the Bank Secrecy ActTornado CashCoin Center:U.S. Treasury sanction of privacy tools places sweeping restrictions on all AmericansCoin Center is suing OFAC over its Tornado Cash sanctionDenial of Coin Center’s motion in its case against the US Treasury over OFAC sanctions-Unchained Podcast is Produced by Laura Shin Media, LLC.  Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.