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An unworkable and arguably unconstitutional tax change tucked away in the infrastructure bill – Coin Center

An unworkable and arguably unconstitutional tax change tucked away in the infrastructure bill – Coin Center



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5 Comments

  1. The easiest way to ban DeFi and peer to peer bitcoin related interfaces is to turn everyone in the world us citizen or otherwise into a felon overnight by making them in violation of the banking secrecy act.

    We need to do pacs, donations, superpacs, get senators voted in, stall congress, introduce counter legislation, get senators and reps on board, donate to lobbying, and take this to the Supreme Court. This is a death knell to most of the current industry and our privacy. It’s a way for big banks to coopt and steal our technology and censor at the transaction level.

  2. I can’t believe more people aren’t talking about this. This needs to be pushed back by every single resident, but first they need to hear about it. Time will tell if shit like this comes to the UK, but no doubt…

  3. tldr; The infrastructure bill would require businesses to report on their counterparties when they receive more than $10,000 in cash. The bill would also require similar reporting when businesses receive over $10k in cryptocurrencies. The provision would require recipients of digital assets to verify the sender’s personal info and record their Social Security number.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  4. This already happens with fiat, what’s the big deal? It’s to prevent money laundering, this is essentially giving more legitimacy to btc as a currency. Unless you’re trying to launder money and evade taxes why does it upset you?

What do you think?

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