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US lawmakers introduce bipartisan bill to modify a crypto tax provision in Biden's infrastructure deal
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US lawmakers introduced a bipartisan bill Thursday that seeks to modify a cryptocurrency tax provision in President Joe Biden's newly passed infrastructure deal.
The Keep Innovation in America Act, led by Representatives Patrick McHenry (R-North Carolina) and Tim Ryan (D-Ohio), is meant to clarify the definition of a crypto «broker» as spelled out in the Infrastructure Investment and Jobs Act that was signed into law on November 15.
Lawmakers and crypto advocates have been in different camps about how broadly or narrowly to define the term, which would determine the companies that fall under new cryptocurrency tax-reporting rules.
The current language's ambiguity has been a point of contention, even though the tax provisions will
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