Fireside Chat: The Infrastructure Bill & Crypto with Tom Block and Sean Farrell (August 6, 2021)

We had the opportunity to meet with Tom Block, FSInsight’s Washington and Policy Strategist, along with Sean Farrell, our VP of Digital Assets.

There’s been an overlap this week between The Bipartisan Infrastructure Bill, that Tom Block has been reporting on, and a new provision that could have implications on the crypto industry.

1) Sean clarifies the provision addressing crypto and how it could impact the industry.

2) There have been multiple amendments introduced, some clarifying the definition of a broker, other’s omitting Proof of Work crypto, and some “striking” the whole provision altogether.

Tom Block shares his insight and experience in Washington, how amendments work & what are some possible ways this could play out over the weekend.

3) In Washington, is this something Tom has seen before, a controversial issue slipped into a bill like this?

4) Sean addresses crypto metrics and how they are responding to the news. Are we seeing crypto assets moving from wallets/exchanges to cold storage, in an attempt to avoid any tax implications?