New Infrastructure Bill Looks to Raise $30B Through Crypto Taxes

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A bipartisan infrastructure bill in Congress proposes to raise $28 billion from crypto investors by applying new information reporting requirements to exchanges and other parties.

According to a draft copy of the bill shared with CoinDesk, any broker that transfers any digital assets would need to file a return under a modified information reporting regime. The draft defined digital assets as “any digital representation of value … recorded on a cryptographically secured distributed ledger” or related technology. It also includes decentralized exchanges and peer-to-peer marketplaces in its definition of brokers.

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A separate summary of the bill further clarified that cryptocurrencies are treated as a subsection of the broader digital asset umbrella.

finance.yahoo.com/news/infrastructure-bill-looks-raise-30b-212531925.html?guccounter=1

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