Crypto-Currency Regulations in The Infrastructure Bill
shawnamicksnewsletter.substack.com
Section 80603: Information Reporting for Brokers and Digital Assets. Biden’s “bipartisan” infrastructure bill was released late tonight (August 1st ), and as expected, there’s fuckery about. Concern over the past few weeks has been the inclusion of rhetoric that could result in heavier regulations that miners would simply not be able to comply with and further taxing on crypto-currencies. That’s exactly what’s happening, assuming this bill passes, which I believe it will. Let’s get into the bill and what it actually means, since the favored game of politicians is to make ridiculously difficult documentation hide their sadistic nature. First, they updated the definition of broker in order to raw dog anyone making money in crypto to include a sub-paragraph. Here is the definition of a broker as defined in the U.S. Code § 6045 - Returns of brokers of the Internal Revenue Code of 1986.
Crypto-Currency Regulations in The Infrastructure Bill
Crypto-Currency Regulations in The…
Crypto-Currency Regulations in The Infrastructure Bill
Section 80603: Information Reporting for Brokers and Digital Assets. Biden’s “bipartisan” infrastructure bill was released late tonight (August 1st ), and as expected, there’s fuckery about. Concern over the past few weeks has been the inclusion of rhetoric that could result in heavier regulations that miners would simply not be able to comply with and further taxing on crypto-currencies. That’s exactly what’s happening, assuming this bill passes, which I believe it will. Let’s get into the bill and what it actually means, since the favored game of politicians is to make ridiculously difficult documentation hide their sadistic nature. First, they updated the definition of broker in order to raw dog anyone making money in crypto to include a sub-paragraph. Here is the definition of a broker as defined in the U.S. Code § 6045 - Returns of brokers of the Internal Revenue Code of 1986.