Supporters of the crypto industry in the U.S. Senate filed an amendment to the bipartisan infrastructure bill, which would impose new tax-reporting rules on...
Supporters of the crypto industry in the U.S. Senate filed an amendment to the bipartisan infrastructure bill to make clear that miners and providers of crypto services would not be required to follow new tax-reporting rules on crypto brokers.
It also exempts developers who create digital assets from monitoring their use if the users are not their customers. “Digital assets are here to stay,” Lummis said in the press released. “While much more work needs to be done, this amendment is a responsible step toward fully incorporating digital assets into the U.S. financial sector.”
The report also said that the White House is pushing back against the proposed changes, citing an unnamed administration official who argued that the industry is using “scare tactics” to dilute the impact of the proposed law.
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