The House will consider the bipartisan infrastructure bill on Sept. 27.
It's still unclear whether Congress will adopt any amendments.
Días después de que China reiterara medidas drásticas contra el segmento cripto, bitcoin cayó hasta 30%. Estados Unidos, por su parte, parece no ser el centro del universo cripto.
It could just be the U.S. is not the center of the crypto universe.
The congressmen called proposed guidance from the Financial Action Taskforce "concerning."
The two congressmen wrote that rather than potentially regulating innovation and job creation out of the U.S., lawmakers and regulators should “promote an active dialogue between regulators and market participants.”
Citing an unnamed official, Bloomberg said Treasury won’t go after crypto firms that don’t meet the tax code’s definitions of a “broker.”
Rep. Anna Eshoo endorsed a compromise amendment intended to narrow the scope of the term "broker" for crypto tax reporting purposes.
There's a silver lining in Congress' efforts to impose a tax on crypto transactions: The U.S. finally accepts crypto is part of the economy.
The Senate has failed to amend a provision that could cripple the U.S. cryptocurrency sector. But the game's not over yet.
Portman argues his "common sense" provision will provide clarity for the crypto industry by standardizing information reporting of brokers.
Congress's infrastructure bill may not be great for the U.S. crypto sector, but that there's a tax provision at all shows lawmakers recognize the industry's permanence.
An updated draft of a controversial crypto reporting requirement clarifies that brokers "effectuate" transfers of digital assets, but stops short of explicitly excluding miners or other parties that don't provide customer transactions.