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InvestmentsHouse passes $1T infrastructure bill with crypto tax for Biden's approval By...

House passes $1T infrastructure bill with crypto tax for Biden’s approval By Cointelegraph

The United States House of Representatives handed the $1.2 trillion bipartisan infrastructure bill which, if signed into legislation by President Joe Biden, would implement new provisions in relation to crypto-tax reporting for all residents.

The infrastructure bill was first proposed by the Biden administration geared toward primarily enhancing the nationwide transport community and web protection. However, the bill mandated stringent reporting necessities for the crypto neighborhood, requiring all digital asset transactions price greater than $10,000 to be reported to the IRS.