Read_548 – This is Not a Drill! [Jake Chervinsky]

“Here’s the deal with the US infrastructure bill: A new provision has been added that expands the Tax Code’s definition of “broker” to capture nearly everyone in crypto, including non-custodial actors like miners, forcing them all to KYC users.
This is not a drill” – Jake Chervinsky

The government is trying to sneak in an incredibly arduous and expansive redefinition of the tax code that could be interpreted as so broad to essentially encompass every computer and piece of software running in the Bitcoin industry. This will be a disaster for the open monetary network within the United States. Today we read a great thread breaking down the issue from Jake Chervinsky and talk at length about what we can do.
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