in

You may want use as a template for writing your congressional rep regarding the pending infrastructure bill. Awaken US congressional awareness.

Dear Representative DelBene,

You replied that “The Infrastructure Innovation and Jobs Act includes a provision that would impose tax reporting requirements for cryptocurrency brokers,” which refers to the proposed amendment to IRC s. 6045. I write with regard to another, completely separate provision in the same bill — the proposed amendment to IRC s. 6050I, which has radical and overlooked consequences: it creates a new felony crime for businesses and individual users who fail to provide, collect, verify, and report others’ personal information within 15 days of certain “digital asset” transactions using IRS Form 8300.

Due to the Senate’s rushed approval of HR 3684, this provision has been overlooked. I’m including links below addressing this ill-considered provision that will harm law-abiding “digital asset” users and damage the United States competitiveness.

Sincerely,

Bryan

Abraham Sutherland’s main/pinned twitter thread: [https://twitter.com/abesutherland/status/1438881314871156736](https://twitter.com/abesutherland/status/1438881314871156736) First article on 6050I (Tax Notes Aug. 16, and re-published Bitcoin Magazine Sept. 15). Link to the principal report which is attached to this email: [https://www.proofofstakealliance.org/wp-content/uploads/2021/10/Research-Report-on-Tax-Code-6050I-and-Digital-Assets-printable.pdf](https://www.proofofstakealliance.org/wp-content/uploads/2021/10/Research-Report-on-Tax-Code-6050I-and-Digital-Assets-printable.pdf)

Laura Shin “Unchained” podcast, Oct. 26: [https://unchainedpodcast.com/not-reporting-info-on-some-transaction-partners-could-soon-be-a-felony/](https://unchainedpodcast.com/not-reporting-info-on-some-transaction-partners-could-soon-be-a-felony/)

Peter McCormack “What Bitcoin Did” podcast, Oct. 11: [https://www.whatbitcoindid.com/podcast/hidden-danger-in-the-infrastructure-bill](https://www.whatbitcoindid.com/podcast/hidden-danger-in-the-infrastructure-bill)[https://www.youtube.com/watch?v=_M3G1F8o2-w](https://www.youtube.com/watch?v=_M3G1F8o2-w) (video of McCormack podcast) Twitter spaces with Peter McCormack, Abraham Sutherland, and Congressman Warren Davidson, held Monday Oct. 18, 2021, audio recording posted on youtube: [https://www.youtube.com/watch?v=lCq6BVLzF44](https://www.youtube.com/watch?v=lCq6BVLzF44)

selection of links/coverage: [https://www.marketwatch.com/story/the-crypto-industry-could-take-tax-fight-all-the-way-to-the-supreme-court-11632509009](https://www.marketwatch.com/story/the-crypto-industry-could-take-tax-fight-all-the-way-to-the-supreme-court-11632509009)[https://www.breitbart.com/politics/2021/09/29/infrastructure-bills-crypto-surveillance-criticized-unconstitutional/](https://www.breitbart.com/politics/2021/09/29/infrastructure-bills-crypto-surveillance-criticized-unconstitutional/) [https://medium.com/@laurashin/why-not-reporting-info-on-your-crypto-trading-partner-could-become-a-felony-c6399998f113](https://medium.com/@laurashin/why-not-reporting-info-on-your-crypto-trading-partner-could-become-a-felony-c6399998f113) [https://fortune.com/2021/09/21/crypto-transactions-report-to-government/](https://fortune.com/2021/09/21/crypto-transactions-report-to-government/)



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4 Comments

  1. The toughest resistance against “dollar-killa” crypto revolution will be from the country that owns the dollar. You guys have tough crypto life. See Fig1: crypto taxation.

    Wish you success in your current and future battles.

  2. Over $10,000 USD equivalent***** this is the same for cash already….as well as precious metal sales. This is not a real issue if passed but always concerning none the less.

What do you think?

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