So when I arrived in the US Senate, I was the only person who knew anything about Bitcoin. And that sent me on this incredible journey. The first thing was The IRS advised the Senate on the definition of broker... if you write software or you create hardware to mine bitcoin, you must be a broker. It was absurd, ridiculous, and it needed some expertise. So we called on the Internet on this industry and you responded in droves. (05:14–05:29)
CLAIM
Asserts that the IRS advised the Senate that software developers and hardware creators for Bitcoin must be classified as brokers.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
