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I cover regulatory developments impacting the cryptocurrency industry.
A relatively hidden provision in the $1 trillion bill plans to help pay for new roads and bridges by making the tax collection of crypto activities more efficient. However, it is inadvertently casting to wide a net over the industry, threatening its very livelihood in the U.S. A group of senators is pushing back on the language to make it more precise, but hurdles remain.
In this report, I break down what to expect in the coming days and break down what lawyers and industry participants need to know and decisions they must make.