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Joe Biden has “activated” the Infrastructure Bill

Industry News

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The Infrastructure Bill widely discussed among the US officials and the crypto community is now the official US law. On November 16, Joe Biden signed the bill, letting the new requirements come into force. The amendments suggested by crypto-supportive politicians were rejected.

What are the primary goals of the bill? The newly-accepted law aims to tighten the current crypto legislation, introducing a set of new requirements for crypto-related businesses. Furthermore, the bill strengthened reporting requirements for brokerage businesses. For instance, brokers are now obliged to inform the Revenue Service about all the crypto transactions equivalent to more than $10 000.

The US President thanked senators who insisted on getting the law through the Senate. Joe Biden summed up the event by the following comment: “America is moving again, and your life is going to change for the better.” Biden is sure that the recently adopted investment bill is going to provide the USA with the best economy in the world.

While talking about the US government as a whole, a lot of officials understand the bill as an obstacle to the US crypto market development. This said the fight between progressive crypto-supporters and conservative crypto-skeptics continues.

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