The infrastructure bill has passed :(

[HAL1000]

2/ It's important to note that the crypto provisions will not take effect until Jan. 1, 2024, so there is time to roll back this law before it affects anyone. So what can we do?

3/ First, the Senate will now work on a second major spending bill and it's possible an amendment could be included in that bill. We are lucky that Sen. Wyden, as Finance Committee Chair, will be a key to that bill.

4/ Second, we've been working with several members of the House to introduce stand-alone bills to amend the new crypto tax reporting provisions. We would have over two years to get these passed.

5/ Third, although the "broker" definition is now very broad that doesn't mean it automatically covers miners, node operators, developers, etc. Treasury will now interpret its authority and decide who it will apply requirements to. We will engage in that regulatory process.

6/ Finally, we believe that some aspects of the law (like the §6050I individual reporting requirement) are unconstitutional. If they are not fixed by later legislation we will mount a court challenge. Onward!

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So some in the American government pass this bill, they want a report on every bank account holding over $600 and want to impose capital gains tax on things you haven't even sold yet. The SEC work for Jamie Dimon and the Eth liars and cheats association + the CCP, and they go out of their way to kill Ripple an American company, whilst letting the Chinese take the lead, hey America this is getting real, wake up.

[wojake]

Quote

crypto provisions will not take effect until Jan. 1, 2024

OK so cheap fud, LOOOOOOL

[NightJanitor]

The *language* inflation is what worries me.  I'd like to see some of these pols asked "How much is a trillion, in numbers?"

The answers might be quite illuminating...  Some already think it's "their" money - might be fun to see if they can count...!

AOC:  "It's the one after billion!  Really, like, what's a number, anyway?  I mean, money is just, like, a social construct, so..."

("Oh, so, how many thousands in a million?  How many millions in a billion?  How many billions in 1 trillion?  You know, you keep adding up these words you don't seem to know the meanings of and pretty soon we're talking about real numbers.")

Try that "math and money is just a social construct" stuff with your bookie.  I guarantee you'll have $3-5k hospital bills.