House Sends Infrastructure Bill With Crypto Tax Provision to US President

House Sends Infrastructure Bill With Crypto Tax Provision to US President
The U.S. House of Representatives voted to pass a bipartisan infrastructure bill that contains a controversial cryptocurrency tax reporting requirement.The House voted in favor of the bill with at least 218 ayes late Friday night, fulfilling a key priority for the Biden administration amid controversy over whether an accompanying Democrat-led bill would also move forward.The bill now goes to U.S. President Joe Biden for his signature.The crypto industry was concerned about a tax reporting requirement within the bill that sought to expand the definition of a broker for IRS purposes. The reporting requirement would see all brokers report transactions under…