In recent months, the increased focus on cryptocurrency regulation and enforcement at both the federal and state ranges demonstrates the digital currency’s place as a longtime component of the monetary landscape. At the identical time, the cryptocurrency industry has change into extra attuned to and engaged with government. Progress on this house appears prone to continue. Under we talk about a number of the recent notable legislation, regulation and enforcement developments on this business. On August 10, 2021, the U.S. Senate passed a $1 trillion bill geared toward growing infrastructure funding over the subsequent eight years. To help pay for these expenditures, the Senate included a provision imposing reporting requirements on cryptocurrency "brokers," with estimates that such reporting would allow the internal Income Service to collect an additional $28 billion in tax revenue over 10 years. But the broad definition of broker - any particular person chargeable for often providing any service effectuating transfers of digital belongings on behalf of another particular person - sparked important backlash throughout the cryptocurrency neighborhood, resulting in several days of proposals and counterproposals among legislators.