A bipartisan group of U.S. lawmakers have introduced a bill to amend the crypto-related provisions in the bipartisan infrastructure bill signed into law earlier this week.The “Keep Innovation in America Act,” introduced Thursday, would amend the definition of a crypto broker included in the Infrastructure Investment and Jobs Act, the bipartisan infrastructure bill passed by … [Read more...] about US Congressmen Introduce Bill to Modify Crypto Tax Provision in Infrastructure Law
Bill
U.S. senators hurry to retroactively tweak the infrastructure bill concerning crypto
US senators Ron Wyden and Cynthia Lummis rush to tweak the controversial crypto provision, in an effort to narrow some of the new tax reporting rules outlined in the $1,2 trillion infrastructure bill President Joe Biden signed into law on Monday, Bloomberg reported.Hoping to override the provision, which crypto lobbyists argue is overly broad and would hinder the industry’s … [Read more...] about U.S. senators hurry to retroactively tweak the infrastructure bill concerning crypto
President Biden Signs Infrastructure Bill Containing Crypto Broker Reporting Requirement Into Law
Another provision opposed by the crypto industry essentially requires recipients of transactions over $1,000 to verify the sender’s personal information and record his or her Social Security number, the nature of the transaction and other information, and report the transaction to the government within 15 days. Source link … [Read more...] about President Biden Signs Infrastructure Bill Containing Crypto Broker Reporting Requirement Into Law
India likely to introduce new crypto bill later this month
The Indian government is looking forward to modifying the new crypto bill, which according to multiple sources is likely to be introduced later this month.Authorities’ stance towards crypto has softened with time as officials have confirmed that there is no need to impose a blanket ban on crypto, but a “balanced approach needs to be adopted” concerning cryptocurrency trading in … [Read more...] about India likely to introduce new crypto bill later this month
House Sends Infrastructure Bill With Crypto Tax Provision to US President
Pushback against the provision held up the bill’s passage in the Senate, where the infrastructure bill originated, giving the industry a chance to push for an amendment to modify the language. Ultimately, however, the Senate passed the bill without adopting any amendments, despite an 11th-hour effort to secure a change. Source link … [Read more...] about House Sends Infrastructure Bill With Crypto Tax Provision to US President