- July 29, 2021
- Posted by: Stratford Team
- Category: Business
Sen. Cynthia Lummis, R-Wyo., on the Senate Banking Committee’s hearing on cryptocurrency regulation and risks.
Bitcoin is slightly higher Thursday morning, trading just below the $40,000 level.
The price was around $39,800 per coin, while rivals Ethereum and Dogecoin were trading around $2,290 and 20 cents per coin, respectively, according to Coindesk.
CRYPTO CRACKDOWN TO HELP FINANCE BIPARTISAN INFRASTRUCTURE BILL
The infrastructure deal agreed upon by lawmakers and President Biden on Wednesday includes a crackdown on cryptocurrencies as one way to raise revenue to support spending.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
In order to finance more than $500 billion in new spending on infrastructure initiatives, the group said it intends to strengthen tax enforcement when it comes to cryptocurrencies.
As previously reported by FOX Business, IRS Commissioner Charles Rettig requested broader authority from Congress in June to collect information on…