Senators move to exempt Bitcoin, crypto miners from proposed U.S. tax rules

Re:Senators move to exempt Bitcoin, crypto miners from propo... by freeone3000 on Thursday August 05, 2021 @01:30PM (#28076866)

This is not what broker requirements are.

If you are under broker requirements, and you wish to mine a new block, you must have, for every transaction you include in the block, the legal name of the person whose transaction it is, their address, and whether they are a politically compromised individual (ex, a general or politician of a nation that is not the US).

For every transaction you're going to include in the block.

This information is reasonable to expect from brokerages and exchanges, but not from miners, who are merely transaction processors.

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Re:Senators move to exempt Bitcoin, crypto miners from propo... by RandomLensman on Thursday August 05, 2021 @01:44PM (#28077052)

Payment facilitators and processor would normally fall under some sort of KYC regime, I think (let's say when onboarding a merchant). Arguably, there isn't really a one-to-one correspondence with a miner, but to completely exempt miners here is an interesting twist.

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