Executive summaryCryptocurrency and other "digital assets" sold by customers of "brokers" would be subject to Form 1099-B reporting and cost-basis reporting if the Infrastructure Investment and Jobs Act (the bill) becomes law. The bill, which passed the Senate on 10 August 2021, would amend the Internal Revenue Code1 to:Expand the definition of a brokerDefine "digital assets"Apply the cost-basis-reporting regime for securities to digital assetsRequire brokers to report the basis of digital assets transferred to their customers or other non-brokers to the Internal Revenue Service (IRS)Require digital assets to be treated as "cash" when received in the course of a trade or...