American lawmakers are developing stricter rules on cryptocurrency investments, looking to collect more taxes to fund investment into the country's transportation and power systems. — AFP
The Senate’s bipartisan infrastructure deal envisions imposing stricter rules on cryptocurrency investors to collect more taxes to fund a portion of the $550 bil (RM2.32tril) investment into transportation and power systems.
The provisions would raise an additional US$28bil (RM118.24bil) from cryptocurrency transactions, according to a summary of the plan. The proposal would impose more rules on crypto brokers to report transactions of digital assets, including virtual currencies, to the Internal Revenue Service.
t would also require businesses to report crypto transactions of more than US$10,000 (RM42,230).
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