District Court Dismisses Coin Center's Case Against Unconstitutional Financial Surveillance
Coin Center will continue to argue that the Treasury Department's amendment of Section 6050I of the Tax Code "is a clear overreach for the government to force citizens to spy on each other without a warrant."
"I’m sorry to have to say that Coin Center's case challenging Congress’s expansion of Section 6050I of the tax code was dismissed as unripe by the district court," said Jerry Brito, Executive Director of Coin Center.
"This law take effect on Jan 1, 2024, and will require citizens who are recipients of crypto payments of $10,000 or more to report to the government not just the transaction, but the PII (personal identifiable information) of the sender as well–all without a warrant."
"This law will apply to all of us in six months, so time is of the essence, and we’ll be appealing to the Sixth Circuit right away."