Crypto Tax Provision From Last Year Asked To Be Delayed By Rep. Patrick McHenry

Patrick McHenry, top Republican on the House Committee on Financial Services. Image: Al Drago / POOL / AFP

Until there is better clarity about who is covered by the bill, Rep. Patrick McHenry, the top Republican on the House Committee on Financial Services, has asked the US Treasury Department to delay the implementation of the crypto tax provision in the previous year’s Infrastructure Investment and Jobs Act.



Rep. Patrick Henry, who will be the chair of the House Committee on Financial Services when Republicans take over the U.S. House of Representatives when the new Congress takes charge next month, wrote in a letter to Janet Yellen, the Treasury Secretary, asking the provision to not be implemented until it’s clear which people will be affected by it.

The US Treasury Department has said in various letters that it would not include miners and such groups of people in the definition of a broker, although they have not issued any formal guidance about the concerns related to the provision.