The bipartisan infrastructure bill passed the Senate on Tuesday without any changes to language surrounding new tax-reporting requirements for cryptocurrency businesses. Despite two competing amendments that aimed to narrow and clarify which types of companies would have to follow these proposed rules, neither made it to the final bill, which is now with the House of Representatives.
The language currently in the bill earned the ire not only of crypto trade groups, but of leading industry figures as well. Twitter CEO Jack Dorsey, Andreessen Horowitz general partner Katie Haun and FTX founder and CEO Sam Bankman-Fried all tweeted their criticism, finding that it was too broad in terms of which businesses it defined as having to follow the requirements.
