Crypto takes on Capitol Hill; Recent price action characterized by supply crunch and low exchange volume; Macro picture is uncertain but presents opportunity; Ethereum upside from EIP-1559

Crypto takes on Capitol Hill

Last week, news outlets began reporting on a curious provision tucked away in the 2,700-page, $1 trillion bipartisan infrastructure bill compiled by the Senate. The bill, which is now subject to the Senate amendment process, featured a last-minute, crypto-specific addition that detailed $28 billion of incremental tax revenue resulting from enhanced crypto tax reporting rules.

The focal point of the controversial provision was its definition of "broker." It defined a broker as any person who provides a service “effectuating transfers of digital assets on be...