U.S. Senators Mark Warner (D-Va.) and Kyrsten Sinema (D-Ariz.) on Saturday introduced a new amendment related to a crypto tax reporting provision of the landmark infrastructure bill.
The amendment would exclude cryptocurrency miners who are involved in validating transactions on distributed ledgers and companies that are selling private key hardware or software wallets.
The current version of the crypto reporting provision in the bill would broaden the definition of a “broker” to any entity within the cryptocurrency industry that facilitates the transfer of digital currencies for another person. Opponents of the provision have said that it would force miners, hardware and software developers to track transactions of individuals who are not their direct customers.
The amendment would be a broadened version of the amendment already proposed by Senators Rob Portman (R-Ohio), Sinema, and Warner.
Jerry Brito, executive director of crypto advocacy think tank Coin Center, noted on Twitter that the amendment didn’t include protocol developers.
Early Saturday, the Senate invoked cloture by a tally of 67-27. This is the first procedural step toward passing the bill. By invoking cloture, the Senate is limiting debate on the measure to 30 hours, thus allowing for a final vote by the chamber later Saturday or on Sunday.
CORRECTION (August 8, 18:46 UTC): An earlier version of this story said U.S. Senators Ron Wyden (D-Ore.) and Kyrsten Sinema (D-Ariz.) had introduced the amendment. The amendment was introduced by Mark Warner (D-Va.) and Sinema.
Source: Coindesk
