List of Flash News about digital asset broker reporting
| Time | Details |
|---|---|
| 01:57 |
US Congress Relief Bill Risk for Crypto: Edward Dowd Flags Potential Policy Riders; What BTC, ETH Traders Should Watch
According to @DowdEdward, he alleges on X that Congress could attempt to insert provisions into an economic relief package next year amid a global recession, implying policy headline risk for markets. Source: https://twitter.com/DowdEdward/status/1996035934304043339 Historical precedent exists: digital-asset broker reporting language was added late to the 2021 Infrastructure Investment and Jobs Act as Section 80603, and it became law in November 2021, showing that crypto-related tax and reporting rules can be attached to must-pass bills. Source: https://www.congress.gov/bill/117th-congress/house-bill/3684 Treasury and the IRS later proposed rules requiring digital asset brokers to issue Form 1099-DA and report customer sales, with proposed implementation tied to transactions beginning in 2025, highlighting the concrete compliance direction that could be accelerated via legislation. Source: https://www.irs.gov/newsroom/irs-and-treasury-issue-proposed-regulations-on-sale-and-exchange-of-digital-assets Trading takeaway: BTC and ETH traders should monitor US legislative calendars and bill text releases for any crypto-tax riders in relief or omnibus packages, because statutory language sets reporting scope, covered entities, and effective dates relevant to exchange operations and US liquidity. Source: https://www.congress.gov/resources/display/content/Calendars+and+Schedules Key watchpoints include bill introduction, committee markups, and final conference text, as these were the stages where the 2021 digital-asset provisions were finalized, offering the highest headline risk for crypto. Source: https://www.congress.gov/bill/117th-congress/house-bill/3684/actions |