How does the infrastructure bill affect the mining industry in the US?
The uncertain language — intentional or not — of the infrastructure bill poses an existential threat to the U.S. Bitcoin mining industry. On August 10, the United States Senate voted to pass a $1 trillion bill to revitalize America’s infrastructure. From the standpoint of the crypto community, miners in particular, the Senate’s foray into crypto legislation has been a disaster. Unless the language defining brokers in the bill is clarified, it will singlehandedly thwart the growth of a domestic industry just as it is taking off.As written, the bill allows for multiple interpretations of the....
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Crypto regulation is still a bit pain point in the market right now. The Infrastructure Bill that went before the House in the U.S. has made waves across the market recently. The bill would adversely affect the industry widely. And thus, crypto investors have been fighting this bill as much as they can. Related Reading […]
Hinging on Democrats' ability to resolve intraparty disagreements, the controversial legislation could have tangible consequences for digital finance in the U.S. and beyond — if passed by the House today. Later today, the United States House of Representatives is expected to vote on the bipartisan Infrastructure Investment and Jobs Act of 2021, a bill authorizing sweeping investments in domains such as passenger rail, bridge repair, clean and wastewater facilities, clean energy transmission, and universal access to high-speed internet. Also tucked into the massive bill are several....
Congress has passed the Biden administration’s bill aimed at improving infrastructure, fighting climate change, and bolstering social services. The $1.2 trillion infrastructure bill, which also expands the definition of a broker, awaits U.S. president Joe Biden’s signature after passing with a vote of 228–206 on Friday. Bipartisan Infrastructure Bill Passes to the Tune of $1.2 Trillion The bipartisan infrastructure bill has been a hot topic in recent times and on Friday the bill passed in Congress and now awaits president Biden’s approval. The passing followed....
The infamous Infrastructure Bill put the IRS in a difficult situation. The bill gave the organization incredible fund tracking superpowers. The thing is, the measurements were impossible to enforce. Now, Bloomberg informs us about a letter that a group of senators received on Friday. It basically says that cryptocurrency miners, stakers, “as well as software […]
The U.S. Senate has passed the $1.2 trillion infrastructure bill with a crypto reporting requirement provision that has been described as “unworkable.” Senator Ted Cruz warned: “This infrastructure bill has in it a portion that is designed to obliterate crypto. That would be a tragic mistake.” Senate Passes Infrastructure Bill With ‘Unworkable’ Crypto Tax Provision The U.S. Senate voted 69-30 to approve the $1.2 trillion bipartisan infrastructure bill Tuesday without a crypto amendment. Many people have raised concerns about the cryptocurrency provision....