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Senator assures there will be clarity in US Infra bill’s tax reporting requirements
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The $1 trillion US Infrastructure Bill has sent waves of panic through the crypto community. Stakeholders across the ecosystem wonder whether they’ll be able to comply with the bill’s stringent reporting requirements. Now, senators are stepping forward to be heard.
<p lang=«en» dir=«ltr» xml:lang=«en»>.@RonWyden and I are making sure that tax reporting requirements are clear and don’t put an undue burden on entities that have no information to give the IRS.— Senator Cynthia Lummis (@SenLummis) November 18, 2021
Lummis’s tweet came after members of Congress submitted a letter to also voice their concerns regarding the US Infrastructure Bill. These signers worried the regulations would affect the definition of a “broker” in the crypto industry,
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