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The infrastructure bill makes crypto reporting failures a felony
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Contributor's comments:
Crypto advocates have worried for months about US president Joe Biden’s $1 trillion infrastructure bill, which includes new tax reporting requirements for “digital assets” like cryptocurrencies and nonfungible tokens (NFTs).

As legislators inched closer to passing the bill, digital rights advocates lobbied hard against a provision that requires “brokers”—a vague term that could include developers, miners, and middlemen—to disclose identifying information about their clients or users, arguing that it threatens individual privacy and thwarts the anonymous design of crypto. Despite pushback and attempts to amend the bill, the Infrastructure Investment and Jobs Act, passed by the US House of Representatives on Nov. 5, will be signed into law in the coming days with the original broker language intact.

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OID: 1636535476 @ 11.10.21 09:11:16 (offset server time)

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