Joe Biden, the president of the United States, has signed a bill aimed at raising $1.2 trillion to upgrade the country's infrastructure without including any amendments to the crypto industry, the White House press service has said.
The bill contains an expanded definition of the concept of "broker." Depending on the interpretation, miners and node operators on blockchains, crypto developers, liquidity providers on DeFi protocols and other non-custodial players may be required to report the activities of their users to the IRS.
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In fact, under the new bill, crypto industry participants will be required to collect and transfer user identifying information to which they themselves do not have access.
Senators Ron Wyden, Cynthia Lummis and Pat Toomey proposed excluding crypto industry participants from the bipartisan plan. Their colleague Rob Portman introduced a counter amendment exempting only miners and hardware or software vendors from filing taxes, leaving the status of PoS validators unclear.