Infrastructure Bill

A small but dedicated alliance of crypto-friendly senators continues against damaging industry language in the Infrastructure bill. Representatives Patrick McHenry and Tim Ryan have signed bipartisan legislation to fix onerous tax reporting requirements on crypto “brokers”. This follows similar efforts from senators Cynthia Lummis and Ron Wyden earlier this week. The Keep Innovation In America Act McHenry unveiled his regulatory amendment in a press release on Thursday. The legislation – titled the “Keep Innovation in America Act” – would slash…

It is scarce for governance itself to affect cryptocurrencies. For many years, crypto insides have asked for crypto regulations and transparent rules for the industry. While the infrastructure bill won't do that, it will affect the crypto space nonetheless. Currently, the infrastructure bill is in the U.S. House. The piece of legislation carries a great deal of importance to the Biden administration. But, what does it mean for crypto? A Background to the Infrastructure Bill On August 10, 2021, the…