Stefan Mileschin

Senate infrastructure bill

The competing amendments to the Senate's infrastructure bill may shape the future of cryptocurrency in the United States as senators fight over who must be subject to new tax reporting requirements.

One proposal wants to exempt miners, hardware manufacturers, and developers, putting the focus on centralised cryptocurrency exchanges and trading apps. The Biden administration has thrown its weight behind another amendment that would grant exemption only to those behind so called proof of work cryptocurrencies such as Bitcoin, but not other networks said to be more environmentally friendly because they don't consume as much electricity to validate transactions.

The infrastructure bill, which promises public spending on major projects like new roads and bridge repairs, wouldn't appear to have anything to do with cryptocurrency, but laws in the US are usually piggy backed on something else to make sure they get passed.

https://fudzilla.com/news/53346-the-...nearly-decided