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Senators Eye Cryptocurrency Taxes to Fund Infrastructure Plan

July 29, 2021, 12:16 AM

The Senate’s bipartisan infrastructure deal envisions imposing stricter rules on cryptocurrency investors to collect more taxes to fund a portion of the $550 billion investment into transportation and power systems.

The provisions would raise an additional $28 billion from cryptocurrency transactions, according to a summary of the plan. The proposal would impose more rules on crypto brokers to report transactions of digital assets, including virtual currencies, to the Internal Revenue Service. It would also require businesses to report crypto transactions of more than $10,000.

The cryptocurrency measures were last-minute additions to the infrastructure deal announced Wednesday after weeks of haggling ...

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