- Pat Toomey deemed the bipartisan infrastructure bill’s crypto tax clauses “unworkable”.
- He pointed out broker definitions, effect on non-financial parties, and non-custodial services issues as reasons.
- The senator has promised to amend the bill and is looking for a Republican senator to work with.
Monday: Senator Pat Toomey deemed the bipartisan infrastructure bill’s proposed crypto tax reporting clauses “unworkable”. He pledged to amend the terms.
In a press statement regarding the same, he said,
“Congress should not rush forward with this hastily-designed tax reporting regime for cryptocurrency, especially without a full understanding of the consequences.”
About this, he pointed out that, for one, the text’s definition of a broker is too broad. It affects non-financial services parties such as