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Red alert! A provision that could crush the cryptocurrency industry has been included in a must-pass bipartisan infrastructure package at the last minute.
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Basically, horrible language in the US Infrastructure bill making every person/machine on the planet that touches crypto a broker with reporting requirements. Amendment to fix is being proposed now.
twitter.com/jerrybrito/sta
coindesk.com/podcasts/coind
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I’m thrilled to say that @RonWyden @CynthiaMLummis and @SenToomey have introduced an amendment to explicitly exclude validators, hardware and software wallet makers, and protocol devs from the tax reporting provisions. Bravo! Now we have to get this thing passed.
