A crypto-specific provision that would raise $28b for a $1t infrastructure package before the U.S. Congress was so contentious that it briefly held up the entire bill. Much of the controversy hinges on a technical detail: the definition of the term “broker.”
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How controversial crypto tax found its way into US infrastructure bill
“It’s not actually a tax, it’s increasing reporting rules,” said Reid Yager, a former lobbyist and current director of communications at Blockhaus. “Whoever came up with this is actually pretty crafty. It’s easy to say ‘hey, I don’t want to increase taxes on something’ but if it’s just increasing reporting, it’s pretty hard to get a senator to turn their back.”
