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US infrastructure bill could make crypto mining illegal
The bipartisan-supported infrastructure bill has a new provision that specifically changes the Tax Code to account for digital asset brokers which include all crypto miners. They will need to file 1099 forms that include their customer data which is impossible due to the nature of crypto transactions. What does this mean? It will be impossible for the brokers to fill out the 1099s and be in violation of the Tax Code and at the IRS' mercy. Essentially it would be impossible to legally mine crypto in the United States of America.