The crypto market topped $2 trillion for the first time since May, and 6 other key things that happened in crypto this past week (via CNBCMakeIt)
Currently, the bill defines a "broker" as "any person who is responsible for regularly providing any service effectuating transfers of digital assets on behalf of another person," which. As written, it could potentially target miners, developers, stakers and others who do not have customers and therefore wouldn't have access to the information needed to comply.
Since the infrastructure bill passed in the Senate, members of the House, including Reps. Ro Khanna, D-Calif., Eric Swalwell, D-Calif., Anna Eshoo, D-Calif., Bill Foster, D-Ill., and Darren Soto, D-Fla., have urged for adjustment and called for the definition of a "broker" to be narrowed. If the House amends the bill, it would then be sent back to the Senate for another vote before proceeding to President Joe Biden's desk.
But to avoid further delay, the U.S. Treasury Department plans to clarify its definition of a "broker" without amending the bill, , citing a Treasury official. The bill would remain unchanged, but the Treasury would verbally promise not to target non-brokers when later writing the tax law.2. A record $600 million was stolen in a DeFi hack
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