Three US Senators propose narrowing crypto tax language in infrastructure bill
Cointelegraph
Published Aug 04, 2021 05:04PM ET
Updated Aug 04, 2021 06:40PM ET
Lawmakers have written an amendment to an infrastructure bill in the United States Senate which proposes excluding certain crypto companies from the reporting requirements for brokers.
In an amendment from Oregon Senator Ron Wyden on behalf of himself and Wyoming Senator Cynthia Lummis, with the support of Pennsylvania Senator Pat Toomey, the U.S. lawmakers suggested that some of the provisions in the bipartisan infrastructure deal shouldn't apply to developers, miners, or blockchain firms in the crypto space. Specifically, the amendment proposes that the definition of a broker does not include anyone in the business of “validating distributed ledger transactions,” “developing digital assets or their corresponding protocols,” or dealing with mining software or hardware.
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Written By: Cointelegraph
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