Infrastructure Bill

Senate

Senate Advances Infrastructure Bill Without Amending Crypto Provision

The Senate could still adopt an amendment to the crypto provision through unanimous consent, but it would require every senator to agree.

Policy & regulation  ·  9 August 2021
Taxes

2 Senators Propose Exemptions to Crypto Tax Reporting Required By US Infrastructure Bill

The amendment is a compromise between two previously proposed amendments.

News  ·  7 August 2021
Taxes

Senate’s Infrastructure Bill: What to Expect on Saturday

A handful of lawmakers have expressed support for the Wyden/Toomey/Lummis amendment to the crypto provision.

Policy & regulation  ·  7 August 2021
Coinbase

Tesla’s Musk Urges Lawmakers Weighing Infrastructure Bill’s Tax Provision Not to Pick Crypto ‘Winners or Losers’

The car company's CEO responded via Twitter to a thread by Coinbase CEO Brian Armstrong, who has been critical of the tax provision and a late amendment to it.

People  ·  7 August 2021
IRS

The US Senate Goes to War Over Crypto Taxation

With two competing amendments and pressure from the White House and Treasury, crypto taxation is suddenly the crux of the massive infrastructure bill.

Opinion  ·  6 August 2021
Regulation

Janet Yellen Has Been Lobbying Against Wyden-Lummis-Toomey Crypto Amendment: Report

Senators had hoped to pass the bipartisan bill on Thursday night, but issues remained unresolved around the cryptocurrency regulations.

News  ·  6 August 2021
Infrastructure Bill

Senator Who Wrote Controversial Crypto Tax Rule Proposes Modest Revision

The amendment excludes only proof-of-work mining, or the selling of hardware or software that gives individuals control of private keys to access digital assets.

News  ·  6 August 2021
Crypto Taxes

Sen. Portman Announces Support for Narrowed Crypto Tax Rule

Sen. Rob Portman is believed to have authored the original crypto tax reporting provision with support from the Biden administration.

News  ·  5 August 2021
Cynthia Lummis

Crypto Tax Exemptions Floated for $1T US Senate Bill

The carve-out would allow for miners, developers and node operators to be exempt from broker tax reporting purposes.

News  ·  4 August 2021
Congress

Ohio Sen. Rob Portman Defends Crypto Provision in US Infrastructure Bill

Portman argues his "common sense" provision will provide clarity for the crypto industry by standardizing information reporting of brokers.

News  ·  4 August 2021
Crypto Taxes

Crypto Tax Proposal in US Has Had Limited Impact on Bitcoin Market

Enactment of the bill, if it is passed and signed into law, is still far off.

Markets  ·  3 August 2021
Newsletters

‘Cautiously Optimistic’: Crypto Brings Lobbying Muscle to Infrastructure Debate

Bitcoin does not have a CEO but it does have lawyers.

Opinion  ·  3 August 2021
Newsletters

State of Crypto: Infrastructure Bill Shows Congress Sees Crypto as Here to Stay

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.

Policy & regulation  ·  3 August 2021
Cynthia Lummis

How Controversial Crypto Tax Found Its Way Into US Infrastructure Bill

The crypto provision in the U.S. infrastructure bill was one of a handful of issues that nearly delayed the entire package.

Policy & regulation  ·  3 August 2021
Congress

Updated US Infrastructure Bill Narrows Crypto Reporting Requirement

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.

News  ·  2 August 2021