The Crypto Amendment Infrastructure Bill Rejection Shows A Broken Political S...
Serving U.S Representative for Colorado’s 3rd congressional district, Lauren Boebert questioned why a crypto provision was included in the infrastructure bill, especially since it has no relevance to infrastructure. She added that hiding unrelated laws into bills as a strategy for passing unpopular legislation is why people “hate DC politicians.” Even before covid mandates and […]
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The White House has endorsed an amendment to the $1 trillion Infrastructure bill that supports proof-of-work over all other consensus mechanisms. However, the crypto community is supporting a different amendment. White House Takes Stance on Infrastructure Bill’s Crypto Tax Amendment The White House has endorsed an amendment to the Infrastructure bill sponsored by Senators Mark Warner, Rob Portman, and Kyrsten Sinema who drafted the original tax provision. This amendment competes with another introduced a day prior that has gained much support from the crypto community. It was....
The bitcoin price fell slightly after an amendment clarifying cryptocurrency tax rules in the proposed U.S. infrastructure bill was rejected.
According to Zachary Kelman, Republicans and moderate Democrats may know the tax reporting requirements for crypto firms are impossible, but want to have a provision to fund some of the projects without raising taxes. Zachary Kelman, the general counsel for Cointelegraph, said that the political fight over the tax implications for crypto in the infrastructure bill is nothing new, as it’s likely about how lawmakers plan to pay for everything.In an interview with Cointelegraph's Jackson DuMont, Kelman claimed that Senators pushing the crypto language in the infrastructure bill — which....
"Who knows how much innovation we’re going to stifle, who knows what kind of new apps never emerge," said Senator Pat Toomey. A compromise which proposed amending provisions in the bipartisan infrastructure deal on crypto failed to meet the requirements of a unanimous consent request in the Senate, making the bill likely to go to a full vote without additional changes.This afternoon, Senator Tom Carper, the Democratic floor manager for infrastructure bill HR 3684, put forth the compromise amendment agreed upon earlier today by Senators Pat Toomey, Cynthia Lummis, Rob Portman, Mark Warner,....
Senate talks regarding the controversial crypto provisions to the U.S. infrastructure bill have ended without amendment, suggesting the original bill will be voted on come Tuesday. The provisions aim to raise $28 billion for infrastructure funding through expanded digital asset taxation, and will impose broad third-party reporting requirements on any crypto firm deemed to comprise a “broker.”On August 9, general counsel to Compound Finance, Jake Chervinsky, tweeted that the Senate had voted 68 in favor to 29 against ending debate surrounding the provisions, halting discussions until....