Crypto takes on Capitol Hill; Recent price action characterized by supply crunch and low exchange volume; Macro picture is uncertain but presents opportunity; Ethereum upside from EIP-1559
Aug 4, 2021
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Crypto takes on Capitol Hill
Last week, news outlets began reporting on a curious provision tucked away in the 2,700-page, $1 trillion bipartisan infrastructure bill compiled by the Senate. The bill, which is now subject to the Senate amendment process, featured a last-minute, crypto-specific addition that detailed $28 billion of incremental tax revenue resulting from enhanced crypto tax reporting rules.