1 rich Libsyn https://www.libsyn.com 90 600 At the heart of the controversy is a 3.5% excise tax on all cross-border remittance transfers from non-U.S. citizens. That’s right—if you’re on an H-1B visa, a green card, or another non-citizen status, and you send money overseas (to family, to invest, whatever), this bill proposes your provider (e.g., crypto exchange, traditional remittance app) withhold 3.5% of that transfer as tax. Originally set at 5%, the rate was walked back after pushback from diaspora communities and advocacy groups. Still, 3.5% is significant. It comes on top of existing fees, which means money sent back home could arrive notably lighter. Crypto platforms that enable cross-border transfers—including exchanges like Coinbase and Kraken—would likely be considered remittance transfer providers under existing definitions. Which brings us to crypto’s conundrum. BitAML Podcast https://sites.libsyn.com/553852 <iframe title="Libsyn Player" style="border: none" src="//html5-player.libsyn.com/embed/episode/id/36946360/height/90/theme/custom/thumbnail/yes/direction/forward/render-playlist/no/custom-color/88AA3C/" height="90" width="600" scrolling="no" allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen></iframe> https://assets.libsyn.com/secure/content/189475090