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Crypto world wins over House Democrats in tax fight

Technology Manias – EᐯEᖇYTᕼIᑎG YOᑌ ᑎEEᗪ IᑎᗪEEᗪ

Crypto-friendly House Democrats are plotting a long-shot bid to scale back digital currency tax rules tucked into President Joe Biden’s infrastructure plan, threatening to prolong a lobbying battle that snarled the legislation in the Senate. At issue in the fight are proposed requirements that would force cryptocurrency exchanges and other firms to report transaction information to the Internal Revenue Service, similar to rules in place for stock brokers. As drafted, industry lobbyists and sympathetic lawmakers say the plan threatens technological innovation and the viability of a growing sector of the…

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