NFTs) in the US are about to have a much harder time doing so, as they’re getting regulated in the country. The H.R.3684 Infrastructure Bill has been passed, meaning crypto brokers will need to report to the Internal Revenue Service (the IRS, which focuses on taxes in the United States).
Certified Public Accountant James Yochum thus took to Twitter to illustrate what this means for NFTs.“In the business of creating/reselling #NFTs?
Get used to filing Form 8300, and obtaining social security numbers and identification of your buyers,” says Yochum.You can also find the Infrastructure Investment and Jobs Act here, on the official Congress.gov website.H.R.3684 Infrastructure bill passed.Digital Assets are now covered securities.Reporting will.
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