This article discusses US Senate Majority Leader Chuck Schumer’s support for a potential cryptocurrency amendment in the upcoming infrastructure bill. The amendment, backed by Senators Rob Portman, Mark Warner, and Kyrsten Sinema, seeks to provide clarity on tax reporting requirements for cryptocurrency brokers. The infrastructure bill currently includes a provision that would require crypto brokers to report customer information to the IRS. However, the amendment aims to clear up concerns about the definition of a broker in this context, as some argue the current language could encompass miners, developers, and others who don’t have customers.
Click the link below to learn more about the potential cryptocurrency amendment and how it could impact the crypto industry. Stay updated on the latest developments in US cryptocurrency regulation and understand the implications of this critical infrastructure bill.