Part 2/15:
Abe Sutherland, a legal expert with extensive experience analyzing crypto law, emphasized that the bill contains an amendment to the tax code—Section 6050i—that is essentially a new criminal prohibition targeting peer-to-peer transfers of digital assets. Unlike traditional reporting statutes that typically involve financial institutions, this provision directly applies to individual recipients of digital assets, including ordinary users engaging in private transactions. The statute presumes a face-to-face exchange—a concept rooted in old laws designed for physical cash trades—yet its application to digital assets is both unclear and alarming.