Portman

The Warner-Portman-Cinema amendment follows an amendment proposed by US Senators Ron Wyden (D-Wash.), Cynthia Lummis (D-Wisconsin) and Pat Toomey (D-Pennsylvania) on Wednesday. This amendment aims to loosen IIJA's restrictions on cryptocurrencies after criticism from industry representatives and privacy advocates.

Bitcoin

White House backs Portman amendment to exempt crypto miners in tax proposal

The White House is reportedly formally supporting the Warner-Portman-Sinema crypto amendment over the Toomey-Wyden-Lummis proposal. The former seeks to exclude proof-of-mining and sellers of hardware and software wallets from expanded taxation on crypto transactions and establishes new reporting requirements for crypto “brokers.” Crypto developers and proof-of-stake validators, however, would still be subject to these financial […]