ST Alpha - "btw, the Senate pretty much botched crypto in the Infrastructure bill -- (link)" (Reading a Post)

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btw, the Senate pretty much botched crypto in the Infrastructure bill -- (link)

Posted by oblique (aka kkuphal) Aug 10 '21, 05:32

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https://www.bloomberg.com/news/articles/2021-08-10/outgunned-crypto-lobbyists-falter-in-bid-to-fix-broad-tax-rules?srnd=premium&sref=DWzi38c2 (www.bloomberg.com)

Responses:

(because of one vote.) -- nm - JaxSean Aug 10, 05:42 2
- One senator’s objection, rather. Never actually came to a vote, looks like. -- nm* - znufrii Aug 10, 05:46 1
  - Right because they didn’t allow votes on any amendments because the delays were eating into their recess. -- nm - spamlet Aug 10, 05:56
Nah, they’re just requiring reporting for crypto transactions like you do for stocks. If you’re paying taxes on your transactions this will help you. - spamlet Aug 10, 05:37 6
- Unfortunately it isn't that simple. They have a vague definition of "broker" which has implications for miners, transaction validators, and other - oblique Aug 10, 05:45 3
  - It sounds like they have an amendment that will be attached to another bill. - spamlet Aug 10, 05:51 2
    - I don't believe anything is left to be done in the Senate. Sounds like the next step is fixing it in the House version -- nm - oblique Aug 10, 05:57 1
      - And if that doesn’t work, simply buying off the people in charge of writing the actual regulations will fix the problem. -- nm* - znufrii Aug 10, 06:51
- Right, they don't want any regulations or taxes on crypto at all. That's a fantasy that was never going to happen. -- nm - Inigo Aug 10, 05:41
- looks like the correct answer -- nm - budice Aug 10, 05:40

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