NVCA Statement on Crypto CRA Vote 

WASHINGTON, DC – National Venture Capital Association (NVCA) President and CEO Bobby Franklin issued the following statement in response to the U.S. Senate voted to roll back a recent U.S. Internal Revenue Service (IRS) rule that requires cryptocurrency brokers operating in decentralized finance to collect information on their customers and report on their digital asset transactions:  

“This rule would have stifled blockchain innovation and the economic opportunities driven by this emerging VC-backed sector,” said NVCA President and CEO Bobby Franklin. “The Senate’s bipartisan vote is a win for American blockchain leadership, ensuring that entrepreneurs and investors can continue building without unnecessary regulatory burdens.”  

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The National Venture Capital Association (NVCA) empowers the next generation of American companies that will fuel the economy of tomorrow. As the voice of the U.S. venture capital and startup community, NVCA advocates for public policy that supports the American entrepreneurial ecosystem. Serving the venture community as the preeminent trade association, NVCA arms the venture community for success, serving as the leading resource for venture capital data, practical education, peer-led initiatives, and networking. For more information about NVCA, please visit www.nvca.org.