Searching for new funds to pay for their infrastructure package, the White House and moderate Senate Republicans led by Sen. Rob Portman (Ohio) agreed to increase requirements for what brokerages have to report to the Internal Revenue Service. The measure emerged as a late potential compromise after months of disagreements over how to pay for the package. But industry groups and some lawmakers, including Sen. Patrick J. Toomey (R-Pa.), are warning that the language as drafted is too broad and could give the Biden administration the opportunity to crack down on not just cryptocurrency brokers but also bitcoin “miners” who are crucial for validating transactions on the decentralized network. All of this signals either government backed crypto industry pushback or officials still scrambling to learn about crypto in order to make informed decisions.

#InfrastructureBill #Crypto #Bitcoin
~Infrastructure Bill Crypto Tax Update | Rushed Amendment Coming Soon?~
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