The U.S. Infrastructure Bill is set to have far-reaching implications on how Virtual Asset Service Providers (VASPs) are defined – and how the broader crypto industry is regulated. Here’s a quick update on one of the impending significant developments in Travel Rule news:
In the U.S, a $1T Infrastructure Bill was introduced to improve infrastructure facilities in various components of the U.S economy. The part of the bill that attracted the crypto community’s attention was the proposal to raise $28 billion by including a broad definition of crypto brokers. This could potentially rope in DeFi players, miners, decentralized exchanges, and others requiring them to adhere to strict reporting requirements.