Bitcoin & Crypto facing the end? This law should put an end to the industry
A law is currently looming on the horizon that, if waved through, would “kill” bitcoin mining and the entire cryptocurrency industry in the US.
A bridge collapses somewhere in suburban Minnesota. Meanwhile, faulty pipes make drinking water unsafe in urban Michigan. At the same time, the Internet goes down in rural Kansas.
The answer to these $550 billion problems is the bipartisan infrastructure bill currently in the works in the Senate.
What does all this have to do with cryptocurrencies?
Apparently purely nothing, but actually quite a lot. Because the price for all this is to be paid by the crypto industry, among others, and in a way that could kill the industry as we know it.
But let’s go in order and take a closer look at the lifestyle heart.
It’s akin to a bitcoin mining ban in the U.S.
The bill in question contains a provision that expands the tax law definition of a broker to include “any person who is responsible (for a fee) for conducting transactions of digital assets and regularly provides services.”
This definition is so broad that, if interpreted literally, it could apply to almost any economic actor in the crypto industry in the United States.
In practice, this could mean that any PoW miner, PoS validator, and possibly even those operating in decentralized financial markets will need to meet this definition of IRS reporting requirements and file so-called 1099 forms.
To complete Form 1099, customer data such as name, address, and tax identification number must be collected. Data that many of the above players wouldn’t even be able to get to if they wanted to. They wouldn’t be able to comply with this requirement.
https://wasearch.loc.gov/e2k/*/lifestyleheart.com http://blogs.rtve.es/libs/getfirma_footer_prod.php?blogurl=http%3A%2F%2Flifestyleheart.com http://m.odnoklassniki.ru/dk?st.cmd=outLinkWarning&st.rfn=http%3A%2F%2Flifestyleheart.com https://search.bt.com/result?p=https%3A%2F%2Flifestyleheart.com&Location=Location&channel=Test3 https://sba.yandex.net/redirect?url=https%3A%2F%2Flifestyleheart.com%2F&client=clck&sign=41dd91171f61240e1d8d6f8aa8aeb1f7 https://jump.5ch.net/?lifestyleheart.com http://m.ok.ru/dk?st.cmd=outLinkWarning&st.rfn=http%3A%2F%2Flifestyleheart.com https://rb.gy/vsxnma https://linktr.ee/ajaykapoor01988 https://is.gd/SadG1B https://bit.ly/3kTHudS https://tinyurl.com/2f3yfhdw https://clck.ru/WPBGT https://cutt.ly/7QqKgKv https://unsplash.com/@lifestyleheart/likes https://www.instructables.com/member/lifestyleheart/?publicPreview=true https://giphy.com/channel/lifestyleheart https://www.liveinternet.ru/journal_proc.php?action=redirect&url=https://lifestyleheart.com/ https://www.youtube.com/channel/UC_9zi9-sD5eA8ZNOGa_5Jyw/about https://comicvine.gamespot.com/profile/lifestyleheart/about-me/ http://flightgear.jpn.org/userinfo.php?uid=19525# http://lifestyleheart.idea.informer.com/ https://60fbf84fea993.site123.me/ https://about.me/lifestyleheart https://academy.autodesk.com/users/marksmithbacklinks https://anchor.fm/lifestyleheart https://archive.org/details/@lifestyleheart https://band.us/band/84797406/intro https://bodyspace.bodybuilding.com/about-me/lifestyleheart https://camp-fire.jp/profile/lifestyleheart https://conifer.rhizome.org/lifestyleheart https://coub.com/lifestyleheart https://cults3d.com/en/users/lifestyleheart https://disqus.com/by/lifestyleheart/about/ https://dribbble.com/lifestyleheart2/about https://ello.co/lifestyleheart1 https://en.gravatar.com/lifestyleheart1 https://gab.com/lifestyleheart1 https://www.informationweek.com/profile.asp?piddl_userid=447574 https://my.archdaily.com/us/@lifestyleheart https://my.plataformaarquitectura.cl/cl/@lifestyleheart https://myanimelist.net/profile/lifestyleheart https://pantip.com/profile/6560660#topics https://participa.gencat.cat/profiles/lifestyleheart/activity https://pbase.com/lifestyleheart/profile https://lifestyleheart.contently.com/ https://skyandtelescope.org/author/lifestyleheart/ https://speakerdeck.com/lifestyleheart1 https://trabajo.merca20.com/author/lifestyleheart/ https://www.autocar.co.uk/users/lifestyleheart https://www.behance.net/lifestyleheart https://www.bonanza.com/users/49661628/profile?preview=true https://www.cdprojekt.com/pl/forums/users/lifestyleheart/ https://www.darkreading.com/profile.asp?piddl_userid=447574 https://www.demilked.com/author/marksmith/ https://www.flickr.com/people/193555783@N06/ https://www.geogebra.org/m/gznjrutr https://www.giantbomb.com/profile/lifestyleheart/about-me/ https://www.goodreads.com/user/show/138074448-lifestyleheart https://www.hosteltur.com/comunidad/usuario/lifestyleheart https://www.kiva.org/lender/lifestyle1446 https://www.patreon.com/user?u=59033184 https://www.pearltrees.com/lifestyleheart/item378001821 https://www.producthunt.com/@lifestyleheart https://www.quora.com/profile/Mark-Smith-6331 https://www.ted.com/profiles/29329251/about https://www.tripadvisor.com/Profile/lifestyleheart https://www.walkscore.com/people/657160829230/lifestyleheart https://www.wattpad.com/user/lifestyleheart https://slides.com/marksmith-6 https://www.sbnation.com/users/lifestyleheartblog https://www.theverge.com/users/lifestyleheartblog https://www.recode.net/users/lifestyleheartblog https://bitterandblue.sbnation.com/users/lifestyleheartblog https://7500toholte.sbnation.com/users/lifestyleheartblog https://rokerreport.sbnation.com/users/lifestyleheartblog https://cottagersconfidential.sbnation.com/users/lifestyleheartblog https://thetilehurstend.sbnation.com/users/lifestyleheartblog https://throughitalltogether.sbnation.com/users/lifestyleheartblog https://liverpooloffside.sbnation.com/users/lifestyleheartblog https://cominghomenewcastle.sbnation.com/users/lifestyleheartblog https://bracethehammer.sbnation.com/users/lifestyleheartblog https://weaintgotnohistory.sbnation.com/users/lifestyleheartblog https://fosseposse.sbnation.com/users/lifestyleheartblog https://stmarysmusings.sbnation.com/users/lifestyleheartblog https://royalbluemersey.sbnation.com/users/lifestyleheartblog https://lionofviennasuite.sbnation.com/users/lifestyleheartblog https://cartilagefreecaptain.sbnation.com/users/lifestyleheartblog https://thebusbybabe.sbnation.com/users/lifestyleheartblog https://theshortfuse.sbnation.com/users/lifestyleheartblog http://www.etc.cmu.edu/projects/tatrc/?p=142 https://domain.opendns.com/lifestyleheart.com https://www.blogtalkradio.com/marksmithbacklinks http://creativecommons.org/choose/results-one?q_1=2&q_1=1&field_commercial=n&field_derivatives=sa&field_jurisdiction=&field_format=Text&field_worktitle=Blog&field_attribute_to_name=Lam%20HUA&field_attribute_to_url=https%3A%2F%2Flifestyleheart.com%2F http://kuri6005.sakura.ne.jp/aspnet/wiki/index.php?lifestyleheart https://feeds.businessinsider.com.au/~/t/0/0/businessinsideraustralia/~lifestyleheart.com%2F http://www.giscience.sakura.ne.jp/pukiwiki/index.php?lifestyleheart https://www.fhwa.dot.gov/reauthorization/reauexit.cfm?link=https%3A%2F%2Flifestyleheart.com https://www.jobzone.ny.gov/views/jobzone/leaving_site.jsf?id=304&url=https%3A%2F%2Flifestyleheart.com http://sound2sense.archiveweb.mus.cam.ac.uk/?URL=lifestyleheart.com http://sound2sense.archiveweb.mus.cam.ac.uk/?URL=lifestyleheart.com https://rspcb.safety.fhwa.dot.gov/pageRedirect.aspx?RedirectedURL=https%3A%2F%2Flifestyleheart.com%2F https://www.liveinternet.ru/users/geekwatchnow/post485724299/ http://search.bt.com/result?p=https%3A%2F%2Flifestyleheart.com%2F&Location=Location&channel=Test3 http://search.bt.com/result?p=https%3A%2F%2Flifestyleheart.com%2F&Location=Location&channel=Test3 https://hobby.idnes.cz/peruanske-palive-papricky-rocoto-dlz-/redir.aspx?url=http%3A%2F%2Flifestyleheart.com https://cernicka.blog.idnes.cz/redir.aspx?url=https%3A%2F%2Flifestyleheart.com https://duchonova.blog.idnes.cz/redir.aspx?url=https%3A%2F%2Flifestyleheart.com%2F http://decisoes.fazenda.gov.br/netacgi/nph-brs?d=DECW&f=S&l=20&n=-DTPE&p=10&r=3&s1=COANA&u=https%3A%2F%2Flifestyleheart.com https://scanmail.trustwave.com/?c=8510&d=4qa02KqxZJadHuhFUvy7ZCUfI_2L10yeH0EeBz7FGQ&u=https%3A%2F%2Flifestyleheart.com%2F https://mix.com/search/lifestyleheart.com/domain https://medium.com/@ashakaushik3dec2014/top-7-makeup-products-that-make-your-life-easier-266ea15fb354 https://feeds.businessinsider.com.au/~/t/0/0/businessinsideraustralia/~lifestyleheart.com%2F http://pub4.bravenet.com/classified/show.php?usernum=339955347 https://medium.com/@ashakaushik3dec2014/12-most-famous-lord-shiva-temples-in-india-d7320610ec3c https://www.onfeetnation.com/profiles/blogs/12-most-famous-lord-shiva-temples-in-india http://mcdonaldauto.ning.com/profiles/blogs/12-most-famous-lord-shiva-temples-in-india https://webhitlist.com/profiles/blogs/12-most-famous-lord-shiva-temples-in-india https://ajay320.substack.com/p/12-most-famous-lord-shiva-temples https://peterpaulsobormoqc.freeforums.net/thread/2423/long-run-defining-content-help?page=6&scrollTo=3219 http://www.eotl.com.au/index.php?site=profile&action=guestbook&id=295 https://ethicseducationforchildren.org/en/discussions/renown-cbd-gummies-2 https://cox.tribe.so/post/https-wasearch-loc-gov-e2k-lifestyleheart-com-http-blogs-rtve-es-libs-getfi--60fe74ca044ba526101944ef http://baseportal.de/cgi-bin/baseportal.pl?htx=/herbertk/gaestebuch&cmd=add&range=0,20 https://brandenburgische-staedtebahn.de/gaeste.php? https://www.justlashes.com.au/forum/get-started-with-your-forum/top-motivational-speaker-garrison-wynn-motivational-speaker-houston-tx/p-16 http://www.juntadeandalucia.es/averroes/centros-tic/41700099/helvia/bitacora/index.cgi https://www.latinochamberco.org/Bulletin/8866765 https://dsafnebraska.org/Blog/9170731 http://blog.sina.com.tw/url_verify.php?url=https%3A%2F%2Flifestyleheart.com https://businesscatalyst.com/Redirect.aspx?destination=https%3A%2F%2Flifestyleheart.com%2F https://cernicka.blog.idnes.cz/redir.aspx?url=https%3A%2F%2Flifestyleheart.com https://community.nxp.com/t5/custom/page/page-id/ExternalRedirect?url=https%3A%2F%2Flifestyleheart.com https://contacts.google.com/url?q=https%3A%2F%2Flifestyleheart.com https://contacts.google.com/url?sa=i&url=https%3A%2F%2Fwww.lifestyleheart.com https://creativecommons.org/choose/results-one?q_1=2&q_1=1&field_commercial=n&field_derivatives=sa&field_jurisdiction=&field_format=Text&field_worktitle=Blog&field_attribute_to_name=Lam%20HUA&field_attribute_to_url=https%3A%2F%2Flifestyleheart.com%2F https://duchonova.blog.idnes.cz/redir.aspx?url=https%3A%2F%2Flifestyleheart.com%2F http://es.catholic.net/ligas/ligasframe.phtml?liga=https%3A%2F%2Flifestyleheart.com http://extras.seattlepi.com/redirect.php?url=https%3A%2F%2Flifestyleheart.com%2F http://feeds.hanselman.com/%7E/t/0/0/scotthanselman/%7E/https%3A%2F%2Flifestyleheart.com https://fjb.kaskus.co.id/redirect?url=https%3A%2F%2Flifestyleheart.com%2F https://foro.infojardin.com/proxy.php?link=https%3A%2F%2Flifestyleheart.com https://id.telstra.com.au/register/crowdsupport?gotoURL=https%3A%2F%2Flifestyleheart.com%2F http://m.bug.hr/switch/?url=https%3A%2F%2Flifestyleheart.com http://maps.google.tn/url?sa=i&url=https%3A%2F%2Flifestyleheart.com%2F http://old.post-gazette.com/pets/redir.asp?url=https%3A%2F%2Flifestyleheart.com%2F http://redir.speedbit.com/redir.asp?id=8030&urldirect=https%3A%2F%2Flifestyleheart.com https://rspcb.safety.fhwa.dot.gov/pageRedirect.aspx?RedirectedURL=https%3A%2F%2Flifestyleheart.com%2F http://sandbox.google.com/url?q=https%3A%2F%2Flifestyleheart.com http://scanmail.trustwave.com/?c=8510&d=4qa02KqxZJadHuhFUvy7ZCUfI_2L10yeH0EeBz7FGQ&u=https%3A%2F%2Flifestyleheart.com%2F http://sound2sense.archiveweb.mus.cam.ac.uk/?URL=lifestyleheart.com http://toolbarqueries.google.tn/url?sa=i&url=https%3A%2F%2Flifestyleheart.com%2F http://tools.folha.com.br/print?url=https%3A%2F%2Flifestyleheart.com https://tvtropes.org/pmwiki/no_outbounds.php?o=https%3A%2F%2Flifestyleheart.com%2F https://www.curseforge.com/linkout?remoteUrl=https%3A%2F%2Flifestyleheart.com https://www.curseforge.com/linkout?remoteUrl=https%3A%2F%2Flifestyleheart.com%2F https://www.etis.ford.com/externalURL.do?url=https%3A%2F%2Flifestyleheart.com%2F https://www.justjared.com/flagcomment.php?el=https%3A%2F%2Flifestyleheart.com%2F https://www.kaskus.co.id/redirect?url=https%3A%2F%2Flifestyleheart.com%2F http://www.worldlingo.com/S4698.0/translation?wl_url=https%3A%2F%2Flifestyleheart.com http://x.chip.de/apps/google-play/?url=https%3A%2F%2Flifestyleheart.com%2F