Representative. Anna Ashu asks Pelosi to change crypto position on infrastructure bill

In a letter to Speaker Nancy Pelosi, Rep. Anna Ashu (D-CA-18) expressed concern about the controversial new tax reporting regulation on cryptocurrencies.

The provision was the latest addition to a much-hyped infrastructure bill that would allow more than $ 1 trillion to be invested in the nation’s public services. The Senate passed it earlier this week and it will go to the House later this year.

On Twitter, Eshoo wrote that the bill ” imposes new reporting requirements on miners, validators and portfolio developers who fail to meet these requirements.”

Today I called on Speaker Pelosi to amend the statements of the cryptocurrency broker in the Senate infrastructure bill.

The legislation sets out new reporting requirements for miners, validators and portfolio developers who fail to meet these requirements. # DontKillCrypto

– Representative. Anna G. Ashu (@RepAnnaEshoo)August 12, 2021

It specifically refers to a bill that expands the definition of the word “broker” for tax reporting purposes; the current language is vague enough to include crypto miners, verifiers, and software developers. A number of different changes were proposed, some of which explicitly excluded miners, but none were adopted.

Lobbyists of the crypto industry-progressive and conservative right-wingers-opposed this part of the bill. Miners and verifiers claim to be the foundation of the Web 3 infrastructure, which means that anyone remotely associated with crypto must be identified to the government in some way.

This is complicated by the fact that miners do not have a chance to access identifying information about traders starting new transactions outside of cryptocurrencies. “It’s a disaster for digital privacy,”says the nonprofit Electronic Frontier Foundation.

18, which covers most of Silicon Valley, Ashu said. He represents the California Congressional District. Hashtag

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