{"id":560640,"date":"2023-03-07T20:30:00","date_gmt":"2023-03-07T17:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/us-lawmakers-planning-to-reintroduce-bill-aimed-at-fixing-crypto-reporting-requirements-report\/"},"modified":"2023-03-07T20:30:00","modified_gmt":"2023-03-07T17:30:00","slug":"us-lawmakers-planning-to-reintroduce-bill-aimed-at-fixing-crypto-reporting-requirements-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/us-lawmakers-planning-to-reintroduce-bill-aimed-at-fixing-crypto-reporting-requirements-report\/","title":{"rendered":"# US lawmakers planning to reintroduce bill aimed at fixing crypto reporting requirements: Report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3a96f1537d8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3a96f1537d8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/us-lawmakers-planning-to-reintroduce-bill-aimed-at-fixing-crypto-reporting-requirements-report\/#%E2%80%9D_US_lawmakers_planning_to_reintroduce_bill_aimed_at_fixing_crypto_reporting_requirements_Report_%E2%80%9C\" >&#8221; US lawmakers planning to reintroduce bill aimed at fixing crypto reporting requirements: Report &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_US_lawmakers_planning_to_reintroduce_bill_aimed_at_fixing_crypto_reporting_requirements_Report_%E2%80%9C\"><\/span>&#8221; US lawmakers planning to reintroduce bill aimed at fixing crypto reporting requirements: Report &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvOWJjYTZkNzUtODNhYy00OTUzLTg5OWUtNDFlYWNjZjNkODI0LmpwZWc=.jpeg\" \/><\/p>\n<div class=\"post-content\" data-v-48054ca8>A group of United States lawmakers is reportedly planning to reintroduce legislation to change the reporting requirements for certain taxpayers involved in crypto transactions.<\/p>\n<p>According to a March 7 report from Punchbowl <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a>, Representatives Patrick McHenry and Ritchie Torres <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/punchbowl.news\/archive\/3723-punchbowl-news-am\/\">plan<\/a> to reintroduce the Keep Innovation in America Act. McHenry was one of the leading voices behind the previously proposed bill in an effort to change the definition of a broker as defined in the U.S. infrastructure law \u2014 President Joe Biden signed the legislation in November 2021.<\/p>\n<p>Under a draft of the bill, the requirement for brokers to report on digital asset transactions worth more than $10,000 to the Internal Revenue Service would be pushed from 2024 to 2026. In addition, \u201cminers and validators, hardware and software developers, and protocol developers\u201d would not be considered brokers. <\/p>\n<p>Some lawmakers identified potential conflicts as the infrastructure bill was being considered in Congress\u00a0in 2021 and attempted to amend the legislation. Many have still criticized the law for setting impossible crypto reporting requirements for firms and individuals.<\/p>\n<p>McHenry and Torres have reportedly included provisions in the revised bill to limit the U.S. government\u2019s ability to define the term \u201cdigital asset.\u201d According to Punchbowl, a bipartisan group of seven other House members has signed on as co-sponsors for the legislation, including pro-crypto Representative Darren Soto.<\/p>\n<p>The draft bill states:<\/p>\n<blockquote><p>\u201cConsistent and accurate reporting on digital asset transactions is necessary. Congress must work to bring legal and regulatory certainty to the digital asset industry. Clear rules of the road fosters <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> and innovation.\u201d<\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><strong><em>IRS reminds taxpayers of crypto income reporting ahead of 2022 filing<\/em><\/strong><\/p>\n<p>McHenry took over as chair of the House Financial Services Committee from Representative Maxine Waters at the start of the 118th Congress in January. In his leadership role, he has helped set up a subcommittee on digital assets, financial technology and inclusion, which is scheduled to hold a hearing\u00a0on March 9.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/us-lawmakers-planning-to-reintroduce-bill-aimed-at-fixing-crypto-reporting-requirements-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; US lawmakers planning to reintroduce bill aimed at fixing crypto reporting requirements: Report &#8220; A group of United States lawmakers is reportedly planning to reintroduce legislation to change the reporting requirements for certain taxpayers involved in crypto transactions. According to a March 7 report from Punchbowl News, Representatives Patrick McHenry and Ritchie Torres plan&#8230;<\/p>\n","protected":false},"author":1,"featured_media":560641,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/9bca6d75-83ac-4953-899e-41eaccf3d824.jpeg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[52214,71511,55229,70934,67874],"class_list":["post-560640","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-congress","tag-government","tag-law","tag-regulation","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/560640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=560640"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/560640\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/560641"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=560640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=560640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=560640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}