Later today, the United States House of Representatives is expected to vote on the bipartisan Infrastructure Investment and Jobs Act of 2021, a bill authorizing sweeping investments in domains such as passenger rail, bridge repair, clean and wastewater facilities, clean energy transmission, and universal access to high-speed internet. The bill contains several provisions which would affect crypto users directly, including the increased tax reporting requirements of entities that handle cryptocurrency transactions.

The Sept. 30 House vote and the bill’s passage are not warranted. The legislation is working through Congress alongside the budget resolution bill, with several factions within the Democratic party — which controls the majority of seats in the chamber but needs a clean party-line for the initiative — conditioning their support of the infrastructure bill on certain social policy-related provisions being included in the budget reconciliation.

Continue Reading on Coin Telegraph