Joined June 2009
- Tweets 170
- Following 3,651
- Followers 2,647
- Likes 1,729
15 Photos and videos
Pinned Tweet
30 Jan 2023
The IRS is wrong. New cryptocurrency tokens from staking are not taxable income. Congress can and should fix the tax code to make this clear. Keep taxation fair -- end overtaxation and the compliance nightmare.
My latest in @taxnotes – taxnotes.co/3DllssT
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Abraham Sutherland retweeted
21 Mar 2025
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.
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16 Jan 2025
The crime of "money transmitting" is not what Biden's Justice Department says it is. Time to straighten this out.
16 Jan 2025
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…
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16 Jan 2025
If you work in crypto, take time to read the complaint in Lewellen v. Garland --
coincenter.org/app/uploads/2…
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Abraham Sutherland retweeted
16 Jan 2025
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…
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Abraham Sutherland retweeted
30 Apr 2024
🚨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.
30 Apr 2024
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…
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30 Apr 2024
Sensible taxation of cryptocurrency.
30 Apr 2024
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…
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3 Jan 2024
Reporting "digital asset" receipts under tax code section 6050I --
I walk through the elements of the statute in this article,
ssrn.com/abstract=4137761
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3 Jan 2024
To help explain how tax code section 6050I will (and won't) work for "digital assets," I use examples involving physical cash in this article:
coincenter.org/congress-take…
Congress Takes Its War on Cash to Digital Assets
Understanding Tax Code Section 6050I
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3 Jan 2024
I address tax code section 6050I's apparent consequences for DeFi and NFTs here:
decential.io/articles/defi-a…
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3 Jan 2024
Here is our complaint @coincenter explaining why the amended 6050I is unconstitutional. This case is currently on appeal on a threshold question.
drive.google.com/file/d/1wMR…
2 Jan 2024
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.
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Abraham Sutherland retweeted
2 Jan 2024
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.
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Abraham Sutherland retweeted
8 Mar 2023
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
7 Mar 2023
#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/…
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Abraham Sutherland retweeted
7 Feb 2023
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
7 Feb 2023
ConsenSys shows its support for Jarretts’ efforts to force a tax policy decision. cointelegraph.com/news/conse…
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Abraham Sutherland retweeted
1 Feb 2023
Staking "Income" Should Not be Taxed - marginalrevolution.com/margi…
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30 Jan 2023
The IRS is wrong. New cryptocurrency tokens from staking are not taxable income. Congress can and should fix the tax code to make this clear. Keep taxation fair -- end overtaxation and the compliance nightmare.
My latest in @taxnotes – taxnotes.co/3DllssT
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30 Jan 2023
Newly created property is never taxable income. Only taxpayer gains should be taxed. It would be doubly tragic if the first-ever breach of the first principle guaranteed the violation of the second principle as well.
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12 Oct 2022
Again with @ConMcPLLC, glad to represent Coin Center in its lawsuit against OFAC
12 Oct 2022
1/ Today Coin Center filed suit in federal district court against OFAC challenging its authority to sanction Tornado Cash immutable smart contracts.
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12 Oct 2022
With @ConMcPLLC, glad to be representing Coin Center and others harmed by Congress's amendment to Tax Code s. 6050I, an unconstitutional burden on cryptocurrency users
12 Jul 2022
Coin Center has filed a court challenge against the Treasury Dept. over unconstitutional financial surveillance coincenter.org/coin-center-h…
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