Blockchain development firm Consensys sent a letter to the U.S. Internal Revenue Service requesting the delay of the proposed tax regulation requiring brokers and exchanges to report certain sales of cryptocurrencies.

“We must echo our overarching concern … that certain aspects of the regulations do not sufficiently consider the burden on the would-be broker, which currently includes entities that do not traditionally have any reporting obligations,” the letter said.

In April, the IRS published an early version of Form 1099-DA, which stems from tax reporting rules proposed last August that said crypto brokers would be treated similarly to traditional brokers for products such as stocks and bonds. Under the proposed rules, entities defined as brokers would need to file 1099-DA forms on …