First, on the Brief:
- U.S. growth last quarter performing under economists’ expectations
- Robinhood's subdued IPO debut
- "Wild amounts" of capital going into crypto
In the main discussion, NLW addresses the specifics, reactions and potential impacts of a crypto provision within the Biden administration’s big infrastructure bill. A draft copy of the provision aims to raise $28 billion via a crypto tax, imposing new reporting requirements for a broad swath of crypto intermediaries.
Potentially, intermediaries from wallet developers to miners will be impacted by the provision. If this draft of the bill makes it to a vote, how will a tax scheme impact crypto development and adoption? Is this provision just a messy step in a positive U.S. government acceptance of crypto or a dangerous damping factor on progress?
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