The DeFi Education Fund has taken legal action against the US Internal Revenue Service (IRS) following the unveiling of a new tax framework that has stirred up controversy within the crypto community. This move comes a mere day after the IRS made its regulations public, which were supposedly finalized months earlier.

The DeFi Education Fund argues in its lawsuit that the IRS's new rules are the result of "midnight" rulemaking, suggesting they were implemented hastily and without proper legal procedure.

The lawsuit further claims that the IRS has overstepped its authority with these rules, posing legal challenges and concerns over the implications for the DeFi sector.