Re:U.S. Senate Vote in Favor of Amendment That Threatens Cry...
by nightski on Monday August 09, 2021 @09:43AM
(#28116697)
Except it does. Because as written it includes miners in that group. Miners have no possible way of having the full identity of the parties involved in every transaction they verify and it would be impossible to comply with this reporting. That effectively outlaws it.
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Re:U.S. Senate Vote in Favor of Amendment That Threatens Cry...
by verdverm on Monday August 09, 2021 @09:46AM
(#28116735)
Did you read the amendment? It explicitly exempts miners, the devs, and pure wallets
Re:U.S. Senate Vote in Favor of Amendment That Threatens Cry...
by nightski on Monday August 09, 2021 @09:48AM
(#28116770)
The United States Senate has voted in favor of the Warner-Sinema-Portman amendment to President Biden’s infrastructure bill in a landslide of 68-29 late on Sunday evening.
"The Warner-Sinema-Portman amendment has been widely criticized by the crypto community for imposing tax reporting requirements on non-custodial actors like miners and software developers who don’t record customer information."
The one that exempts miners has not been adopted (the rival Wyden-Toomey-Luumis amendment).
Re:U.S. Senate Vote in Favor of Amendment That Threatens Cry...
by jcranmer on Monday August 09, 2021 @09:50AM
(#28116793)
The reporting on this topic is inconsistent, but there's two amendments in play here.
AIUI, this is saying that the first amendment (which enacts the reporting requirement in the first place) has been accepted. The second amendment (which adds the explicit exemptions you mentioned) hasn't been decided on yet as far as I can tell.