U.S. Congress Likely To Pass Infrastructure Bill That Threatens To 'Kill' The Crypto Industry

Business Insider: Crypto organizations say $28 billion tax plan in Senate infrastructure bill poses an 'imminent threat' to the industry 

* Crypto leaders said new tax provisions in the Senate infrastructure plan were an "imminent threat." 

* The Senate bill added new reporting rules for crypto trading firms and brokers. 

* The estimated $28 billion in new taxes would help fund President Joe Biden's infrastructure package. 

Cryptocurrency organizations have asked Congress to reconsider language in the Senate's infrastructure bill that posed an "imminent threat" to the industry. 

President Joe Biden's $1.2 trillion infrastructure package, which includes hundreds of billions in funding for roads, railways, and broadband access, would be partly financed by increasing revenue from taxes on cryptocurrencies, according to The White House.  

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Update #1: It’s Not About Taxes, Congress is Coming After the Entire US Crypto Industry (Bitcoin Exchange)  

Update #2: Congress Likely to Pass $550 Billion Infrastructure Bill That Threatens to 'Kill' Crypto Industry (Decrypt) 

WNU Editor: Cryptocurrencies have increased substantially in the past week. If this bill passes, I think some of this enthusiasm is going to evaporate.

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