As has been previously reported, the spending bill that has been in the works for some time now is closer to become law. The ‘Infrastructure Investment and Jobs Act” lands at 2700 pages of government expenditure that aims to improve infrastructure like roads, airports, transportation etc. along with a grab bag of other political goals.
The legislation as it stands today will also impact cryptocurrency or digital asset firms in the US as a portion of the bill requires reporting for digital asset transfers for just about anyone.
Now, this is legislation and it can, and will change so the final language may be different from what is being distributed today. But as was shared yesterday, the Blockchain Association, along with regional crypto advocacy groups, have issued a warning that the current language “poses an imminent threat to the budding crypto industry here in America.”
HR 3684 ‘Infrastructure Investment and Jobs Act