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# US Infrastructure bill halts Bitcoin’s bullish run
- URL: https://btcpeers.com/us-infrastructure-bill-halts-bitcoins-bullish-run-2/
- Published: 2021-08-02T21:11:50.000Z
- Updated: 2023-09-24T15:44:50.000Z
- Author: John Williams
- Tags: News, #saudu, #Import 2025-12-27 14:07

Bitcoin’s latest rally has been cut shut amid growing concerns trailing the potential impact of the new U.S. Infrastructure bill.

For several weeks, the world’s largest cryptocurrency struggled to stay above $30,000\. However, as BTC PEERS reported, Bitcoin pulled a rather miraculous recovery and surpassed the $40,000 mark, climbing to a 2-month high of $42,000.

The recovery signaled an end to a bearish season for many [crypto](https://btcpeers.com/what-is-the-best-cryptocurrency-to-invest-in/) users as Bitcoin’s recovery triggered simultaneous gains in the value of other cryptocurrencies. Bitcoin’s ascent appears to have been cut shut, thanks to a clause in the new $550 billion U.S. Infrastructure bill unsettling a few nerves.

The bill, which is yet to be passed, will create a huge tax burden on the entire American crypto industry as it seeks to generate $28 billion from taxation on crypto brokers. It would also demand miners, DeFi protocols, and larger entities to file customer forms with the Internal Revenue Service (IRS).

> 7/ As those who understand crypto already know, users are pseudonymous & access is permissionless.  
>  
> It's literally impossible for non-custodial actors like miners to get the information they need to do Form 1099s.  
>  
> In practice, this could mean a de facto ban on mining in the USA.
> 
> — Jake Chervinsky (@jchervinsky) July 30, 2021

The proposed bill has arguably forced the price of Bitcoin from $40,000 to about $39,600, as of press time.