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The Crypto Tax Compromise Amendment In The Infrastructure Bill Is Rejected
Summary: The Senate rejected an amendment backed by the cryptocurrency industry that aims to exempt non-custodial cryptocurrency participants from the crypto tax reporting requirements in the Infrastructure Act. After proposing two amendments last week, the senator behind the amendment reached a compromise agreement on Monday morning. The amendment can only be passed with unanimous consent. However, ...
The Senate rejected an amendment backed by the cryptocurrency industry that aims to exempt non-custodial cryptocurrency participants from the crypto tax reporting requirements in the Infrastructure Act.
After proposing two amendments last week, the senator behind the amendment reached a compromise agreement on Monday morning.
The amendment can only be passed with unanimous consent. However, Senator Richard Shelby (R-AL) from Alabama rejected the amendment by opposing the unanimous request.
Shelby said that if his proposed increase in general expenditures by about $50 billion was added to the amendment, he would retain his opposition, but Senator Bernie Sanders (I-Vt.) rejected Shelby's proposal on the grounds of climate change concerns caused by the defense industry.
By Mary Liu
Tags: Crypto,Senate,Tax
Link: The Crypto Tax Compromise Amendment In The Infrastructure Bill Is Rejected [Copy]
