Crypto Provision In Infrastructure Bill May Force Bitcoin Miners And Blockchain Companies To Flee U.S.

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Check in, Airport Departure & Arrival information board sign taken in 2015.

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A relatively hidden provision in the $1 trillion bill plans to help pay for new roads and bridges by making the tax collection of crypto activities more efficient. However, it is inadvertently casting to wide a net over the industry, threatening its very livelihood in the U.S. A group of senators is pushing back on the language to make it more precise, but hurdles remain.

In this report, I break down what to expect in the coming days and break down what lawyers and industry participants need to know and decisions they must make.

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I currently provide legal consulting to cryptocurrency and fintech companies. Prior to consulting, I spent years as Regulatory Counsel for various companies in the

I currently provide legal consulting to cryptocurrency and fintech companies. Prior to consulting, I spent years as Regulatory Counsel for various companies in the cryptocurrency space including Silvergate Bank, bitFlyer and Coinbase. I also previously served as Secretary of the Virtual Commodity Association.

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Author: Hailey Lennon, Senior Contributor


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