Publication Date

2022

Document Type

Article

Abstract

This article examines the cryptocurrency-related provisions of the Infrastructure Investment and Jobs Act of 2021, focusing on amendments to the Internal Revenue Code that expand tax reporting and surveillance obligations for digital assets. Specifically, it analyzes the new “Broker” and “Tax” provisions, which extend reporting requirements beyond traditional financial intermediaries to actors in the blockchain ecosystem who may lack access to the necessary data. The article situates these provisions within the broader regulatory and political context, tracing their roots to prior Treasury rulemaking efforts and exploring their intended role in closing the “tax gap.” It highlights the significant compliance challenges, constitutional concerns, and risks to financial privacy posed by the law, while also considering the potential chilling effect on innovation in the cryptocurrency sector. Rather than prescribing solutions, the article provides a detailed legal and policy analysis designed to aid researchers, policymakers, and practitioners in evaluating the impact of these provisions and to encourage further scholarly engagement with the privacy, constitutional, and economic issues at stake.

Publication Title

University of Missouri Kansas City Law Review

Volume

90

Issue

4

Download

Share

COinS