In latest months, the elevated focus on cryptocurrency regulation and enforcement at both the federal and state ranges demonstrates the digital currency’s place as an established component of the financial landscape. At the identical time, the cryptocurrency trade has become extra attuned to and engaged with authorities. Growth on this area seems likely to continue. Under we discuss a few of the current notable legislation, regulation and enforcement developments in this trade. On August 10, 2021, the U.S. Senate passed a $1 trillion invoice aimed toward growing infrastructure funding over the subsequent eight years. To assist pay for these expenditures, the Senate included a provision imposing reporting requirements on cryptocurrency "brokers," with estimates that such reporting would allow the interior Revenue Service to gather a further $28 billion in tax revenue over 10 years. However the broad definition of broker - any particular person liable for usually providing any service effectuating transfers of digital belongings on behalf of another person - sparked important backlash throughout the cryptocurrency community, leading to a number of days of proposals and counterproposals amongst legislators.