The Infrastructure Investment and Jobs Act (the Act), H.R. 3684, commonly referred to as the infrastructure bill, was signed into law by President Biden on November 15, 2021. Below are summaries of three key changes applicable to users in the crypto, blockchain and digital asset spaces. I. Definition of Broker Under Internal Revenue Code Section 6045
Section 80603 of the Act, Information Reporting for Brokers and Digital Assets, modifies the definition of broker as set forth in Section 6045(c)(1) of the Internal Revenue Code of 1986, as amended (the Code), to include “any person who (for consideration) is responsible […]
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