CAN - Bitcoin slips amid freakout over language in infrastructure bill

The initial version of the now agreed-upon $1T infrastructure bill in Congress doesn't call for any new taxes on crypto transactions, but does call for increased reporting from exchanges and other market participants. That doesn't sound like a big deal, but language in the bill apparently expanded the term "broker" to mean basically every digital market participant, including those to whom these new reporting requirements would be impossible to fulfill (think miners, software/hardware developers, decentralized exchanges, or even some random guy running a node in his basement). Were this language to remain, some in the digital world believe it could be a kill switch for much of the Bitcoin (BTC-USD) industry in the U.S. Recall, that China several weeks ago more or less banned bitcoin mining in that country. That all said, the bill isn't finalized, and the digital industry is marshalling its relatively modest lobbying power to try and

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Bitcoin slips amid freakout over language in infrastructure bill