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House passes $1T infrastructure bill with crypto tax for Biden's approval
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The United States House of Representatives passed the $1.2 trillion bipartisan infrastructure bill, which if signed into law by President Joe Biden, would enforce new provisions in relation to crypto-tax reporting for all citizens.
The infrastructure bill was first proposed by the Biden administration aimed at primarily improving the national transport network and internet coverage. However, the bill mandated stringent reporting requirements for the crypto community, mandating that digital asset transactions worth more than $10,000 are reported to the IRS.
As Cointelegraph reported, the bill was first approved by the Senate on Aug. 10 with a 69-30 vote, which was met with a proposal to compromise amendment by a group of six senators — Pat
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