The Proposal To Regulate Digital Asset Transactions Should Be Struck

The Proposal To Regulate Digital Asset Transactions Should Be Struck

The recent addition to the infrastructure bill is an affront to the progression of the Bitcoin industry in the United States.The following article was previously published by Tax Notes, and has been republished here with permission.An overlooked provision in the Senate-approved infrastructure bill1 would dramatically expand the government’s surveillance of Americans’ economic activity and diminish America’s role in developing an important new technology. The amendment to section 6050I of the tax code should be struck when the bill is taken up in the House. If it’s too late for that, it....


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