What Does The Infrastructure Bill Mean For Crypto?

Even if the bill goes directly into law, and these provisions aren’t changed, they still don’t actually make it illegal for US miners to turn around and sell their coins. The most important part of this is that selling mined coins makes it very easy to follow the money involved in a transaction – like identifying who bought big chunks of Bitcoin at certain times. If these miners would ever sell part of their accumulation (or even all of it) we could potentially identify them as well – exactly what we want to stop with government intervention.

Additionally, if this “long-standing regulatory commitment” is true then current state and federal protections against money laundering and terrorism financing should apply – and every financial institution (like banks or Coinbase/BitFinex) should be required by law to follow those rules. You can rest easy knowing that your personal information won’t end up behind some secret wall where it can be used to finance terrorism or crime anymore. All I have to say about that one is… cheers!