The State of Crypto Regulation | Jake Chervinsky (SotN 8/17)
Bankless
Cryptocurrency Tax Provisions in the Infrastructure Bill
This chapter explores the surprising inclusion of a tax provision for cryptocurrency in the infrastructure bill, catching policy experts off guard. It discusses the implications of redefining 'broker' and imposing stringent reporting requirements on various participants in the crypto ecosystem, raising concerns about the disconnect between legal language and blockchain operations. The chapter also analyzes the strategic approach of lawmakers and the potential impact on the rulemaking process affecting the crypto industry.
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