Twitter CEO Jack Dorsey Recommends US Cryptocurrency Taxation Law!
Twitter CEO Jack Dorsey expressed his opinions on the new US infrastructure law in his statements on Twitter. Making suggestions about the law that could deeply affect the crypto money market, Dorsey tagged members of the parliament who are interested in the subject in his tweet thread.
The infrastructure law, which will be voted in the USA parliament, is the most important situation in the focus of crypto money investors in recent days. If the vote is positive, the bans that will affect not only the USA but the whole world will deeply affect the crypto money market. Many names that are remotely related to crypto money have recently reacted to this situation. One of the reactions came from Jack Dorsey today.
Twitter's co-founder and CEO, Jack Dorsey, joined the ongoing discussions on the law on Twitter. Commenting on the cryptocurrency tax provision, which is part of the law, Dorsey called on the authorities to create a law that he thinks is more appropriate.
"Let's Make a Better Law"
“Imposing rules on Americans who develop software and hardware, adopt and secure the network, or run nodes to build resilience and efficiency is simply an impossible situation to ensure that this critical technology is developed and operated outside of the United States. If we can't implement the whole provision so that we can hold proper hearings and negotiations, then let's simplify the broker definition to what really matters: where digital assets are exchanged for fiat currency. Broker = Fiat-Crypto Exchange.”
Continuing his suggestions by adding members of the legislature to the beginning of his Twitter thread, Dorsey continued: “If you think this is not going far enough, I would argue that this will get you to at least 90% of the target. For the remaining 10% of extreme cases, let's make an appropriate and well-informed law through committee hearings with witnesses on both sides of the debate.”
If the infrastructure law comes into effect in this way without any additional regulation; The cryptocurrency market will perhaps take the biggest blow of this year. The laws of the USA can cause big fluctuations in cryptocurrency prices. This situation affects the whole world. We will continue to keep you informed of developments regarding the law.