Tax Crackdown; Robinhood’s Rough Start; The Graph Grows

A bipartisan proposal that would deliver hundreds of billions of dollars in infrastructure improvements in part through stronger tax enforcement on cryptocurrencies has, unsurprisingly, put some in the crypto world on edge.

The bill would aim to raise $28 billion from crypto holders by tightening reporting thresholds, including requiring businesses to report any digital asset payment of more than $10,000, according to a summary of the proposal. 

Representatives of the crypto industry quickly complained that the legislative proposal, which is still in its early stages, is vague in terms of defining which businesses would be subjected to these reporting rules.