Michele Korver, head of regulation at venture capital fund a16z Crypto, voiced support for a coalition of pro-crypto organizations suing the Internal Revenue Service (IRS) and U.S. Treasury over their new decentralized finance (DeFi) regulations, which critics argue threaten the industry's future. Korver made the announcement in a post on X on Dec. 29, emphasizing a16z's belief that DeFi has the potential to make financial services and the digital economy “accessible, efficient, interoperable, dependable, and consumer-focused.” The lawsuit, filed on Dec. 27 by the Blockchain Association, DeFi Education Fund, and Texas Blockchain Council, challenges the IRS and U.S. Treasury’s rules to classify DeFi platforms as ‘brokers.’ This regulation would force DeFi platforms to comply with stringent reporting and Know Your Customer (KYC) requirements . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io