Janet Yellen Lobby Against Bitcoin


In July, the White House and Sen. Rob Portman (R-Ohio) agreed to a proposal that would require increased tax obligations for bitcoin “brokers” as a means to help fund the bipartisan infrastructure bill. However, the dubious definition the deal brings on what a “broker” would be in the Bitcoin network spurred criticism and revolt.

Under the original proposal terms, developers of free, open-source software (FOSS) in the Bitcoin space, bitcoin miners, node operators, and hardware wallet manufacturers would be considered “brokers” and thus demanded to abide by the new requirements.

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