With continued dialogue between the blockchain industry and the U.S. Congress, there is still hope that regulatory legislation will arrive at a mutually beneficial resolution.
In recent weeks, the blockchain industry made headlines as it engaged in intense discussions with lawmakers after a $28 billion crypto tax reporting proposal unexpectedly became part of the Bipartisan Infrastructure Deal (BID). Ultimately, the BID language was unchanged, leaving uncertainty for the companies that build on blockchain, especially those dedicated to its value beyond cryptocurrency trading. Though unsuccessful in their bid to amend the language, many are claiming victory over the industry finding its voice in the negotiations. Now, it needs to use that voice to refocus the conversation on what really matters — the fact that blockchain technology is infrastructure, not just a revenue source to fund it.
Infrastructure in the form of roads, railways, broadband and the energy grid is about building foundations and connectivity for American businesses to grow and prosper. Look no further than businesses that fuel e-commerce and deliver goods to the doorsteps of Americans in every corner of the country. Their success is dependent on our infrastructure, from electricity and the internet to airports and highways. Their profits are taxed and used, at least in part, to support that underlying infrastructure.
Continue reading: https://cointelegraph.com/news/let-s-be-clear-blockchain-technology-is-infrastructure
In recent weeks, the blockchain industry made headlines as it engaged in intense discussions with lawmakers after a $28 billion crypto tax reporting proposal unexpectedly became part of the Bipartisan Infrastructure Deal (BID). Ultimately, the BID language was unchanged, leaving uncertainty for the companies that build on blockchain, especially those dedicated to its value beyond cryptocurrency trading. Though unsuccessful in their bid to amend the language, many are claiming victory over the industry finding its voice in the negotiations. Now, it needs to use that voice to refocus the conversation on what really matters — the fact that blockchain technology is infrastructure, not just a revenue source to fund it.
Infrastructure in the form of roads, railways, broadband and the energy grid is about building foundations and connectivity for American businesses to grow and prosper. Look no further than businesses that fuel e-commerce and deliver goods to the doorsteps of Americans in every corner of the country. Their success is dependent on our infrastructure, from electricity and the internet to airports and highways. Their profits are taxed and used, at least in part, to support that underlying infrastructure.
Continue reading: https://cointelegraph.com/news/let-s-be-clear-blockchain-technology-is-infrastructure
