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Remember the $1 trillion infrastructure bill, which caused considerable backlash from the crypto community due to the language regarding \u201cbrokers?\u201d Abe Sutherland, an adjunct professor at University of Virginia School of Law, believes another provision tucked inside the bill could end up being a far more significant issue for anyone transacting in digital assets. Show highlights:\n\nhow Abe fell down the crypto rabbit hole\n\nwhat provision 6050I is and how it could affect anyone transacting with digital assets\n\nhow 6050I works and when it would apply\n\nwhy violating 6050I would be a felony\n\nhow 6050I discourages digital asset transactions\n\nhow 6050I would apply to different transaction types, like peer-to-peer trades, NFT sales, and smart contract escrow accounts\n\nwhat information recipients of digital assets must verify from the sender\n\nhow the government came up with the $10,000 reporting threshold and why Abe believes this number is outdated\n\nwhy Abe thinks proposing 6050I within the infrastructure bill is inappropriate\n\nwhat reasons the government has to want to put such stringent reporting requirements on digital asset transactions\xa0\n\nhow 6050I fits under the financial laws of the Bank Secrecy Act\n\nwhy Abe believes the amendment should be struck from the infrastructure bill\n\nwhat Abe thinks of the constitutionality of 6050I\n\nhow Abe views 6050I as less about generating tax revenue and more about tracking people\u2019s digital asset transactions\n\nwhat action steps he says the crypto community can take to fix the bill\n\n\nThank you to our sponsors!\nCrypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021\xa0\xa0\xa0\xa0\xa0\xa0\xa0\xa0\nNodle: http://nodle.io/unchained\xa0\xa0\n\xa0\nEpisode links\n\xa0\nAbe Sutherland\nhttps://twitter.com/abesutherland\n\xa0\nMedium Post: https://medium.com/@laurashin/why-not-reporting-info-on-your-crypto-trading-partner-could-become-a-felony-c6399998f113\n\xa0\nInformation on 6050I\n\nAbe\u2019s research report\xa0\n\n https://www.proofofstakealliance.org/wp-content/uploads/2021/10/Research-Report-on-Tax-Code-6050I-and-Digital-Assets-printable.pdf\n\nTweet thread from Abe\n\n https://twitter.com/abesutherland/status/1438881314871156736\n\n https://twitter.com/abesutherland/status/1443082205383696384\n\n6050I article Abe wrote for Bitcoin Magazine\n\n\n https://bitcoinmagazine.com/business/the-proposal-to-regulate-digital-asset-transactions-should-be-struck\xa0\n\nAbe\u2019s appearance on What Bitcoin Did to discuss 6050I\n\n https://www.whatbitcoindid.com/podcast/hidden-danger-in-the-infrastructure-bill\n\nTwitter spaces with Congressman Warren Davidson, Peter McCormack, and others regarding the infrastructure bill\n\nhttps://www.youtube.com/watch?v=lCq6BVLzF44\n\nMiscellaneous 6050I links\n\n https://www.marketwatch.com/story/the-crypto-industry-could-take-tax-fight-all-the-way-to-the-supreme-court-11632509009\n\n https://www.breitbart.com/politics/2021/09/29/infrastructure-bills-crypto-surveillance-criticized-unconstitutional/\n\n https://fortune.com/2021/09/21/crypto-transactions-report-to-government/\n\n https://www.coindesk.com/policy/2021/09/17/crypto-lobbying-group-warns-of-another-tax-provision-in-senate-infrastructure-bill\n\n https://www.coincenter.org/an-unworkable-and-arguably-unconstitutional-tax-change-tucked-away-in-the-infrastructure-bill/\n\n https://decrypt.co/81236/overlooked-part-senate-infrastructure-bill-renews-worries-crypto-lobby\n\n https://nickanthony.substack.com/p/last-minute-cryptocurrency-taxation\n\n https://www.cato.org/blog/infrastructure-bill-hangs-balance-so-does-crypto\n\n https://ambcrypto.com/what-is-the-u-s-infra-bill-crypto-amendment-really-all-about\n\n\xa0\nUnchained coverage of the infrastructure bill\n\nHow Congress Might Pass Laws Bad for Proof-of-Stake and DeFi\n\n\n https://unchainedpodcast.com/how-congress-might-pass-laws-bad-for-proof-of-stake-and-defi/\xa0\n\n\xa0\n\nLearn more about your ad choices. Visit megaphone.fm/adchoices