US House of Representatives Proposes Amendment of Infrastructure Plan for Cryptos

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Anna Eshoo, member of the US House of Representatives, has asked in an open letter to Speaker Nancy Pelosi to amend the provisions on taxation of cryptos in the infrastructure bill.

The Congresswoman has said that the definition of the term “broker” for the crypto industry in the document is too wide. According to her, not only exchanges or marketplaces for digital assets fall within this category, but also, for instance, miners, validators and wallet developers. She said:

“The legislation imposes new reporting requirements on miners, validators & developers of wallets who would be unable to comply with these requirements.”

She has said that the US Senate has developed a compromise bipartisan amendment to the infrastructure plan, which was supported by Finance Minister Janet Yellen. However, the changes to the bill were not adopted because of procedural problems because the document went to the House of Representatives in its original form.