Washington

What does Bitcoin have to do with roads and bridges?

A lot right now in the U.S. Congress. One way lawmakers propose to pay for the $1 trillion infrastructure bill the Senate approved Tuesday is by imposing tax-reporting requirements for cryptocurrency brokers, the way stockbrokers report their customers’ sales to the IRS. It could open the way for tighter regulation of cryptocurrency – something the Biden administration is moving toward as it also pushes for tax compliance.

The plan could raise about $28 billion in revenue over 10 years, congressional accountants estimate.

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