10 August 2021 14:50, UTC

Anna Martynova

The infrastructure package of US President Joe BIDEN requires a lot of funds. Most of these funds are planned to be obtained as a result of taxation of the cryptoindustry. According to the bill, all participants in the cryptoindustry are required to provide reports on transactions with cryptocurrency.

This approach makes sense for exchanges and brokers, and they even approved such rigorous taxation. But validators, software developers, wallet providers, miners and stakers in this case also have to collect and transfer data, which is completely impossible from a technical point of view.

Submitted on Monday, August 9, amendments from US Senators Cynthia LUMMIS and Pat TOOMEY are aimed at excluding digital asset miners and validators from the term “broker”. Congressmen propose to leave the concept of “broker” only for those participants in the crypto industry who are engaged in the direct exchange of digital assets.

Image: Bitcoin News

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