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I’m pleased to announce that Senators Warner, Toomey, Sinema, Lummis & I have reached an agreement on an amendment to clarify IRS reporting rules for crypto transactions w/o curbing innovation or imposing information reporting requirements on stakers, miners, or other non-brokers.
Community excitement: I would also like to thank the crypto community. This is what makes America great. We made our voices heard throughout the White House. Quite a feat of us to hold up a trillion dollar infrastructure bill. We have come a long way since the early days.
Please could you specify ‘validators’ as being within the exempt category also? SEC has failed to provide clarity, we can only look towards Congress to provide it now. The world’s looking over.
Fantastic. Be proud, and your countrymen and women should be proud of you. A very important decision for the West as a whole.
Crypto and Defi are the way forward and we don’t need to stifle innovation in technologies that can be positively transformative. Please stay on it all the way.
Shout out to all the senators that worked hard for the crypto industry and gave us a huge win. Politics sorting out problems. Power of BTC in action.
Would love clarity on this agreement and language Thank you for listening and collaborating to make reasonable concessions.
Show that USA is ready to lead the world in crypto innovation by seeing this through to the end!
Please understand that this is only the beginning. We need continued education on the incredible benefits of Crypto and Blockchain Technology. With proper oversight and an embracement of the technology the United States can lead the world in Digital asset innovation.
This creates millions of jobs, brings new innovation and tax revenues. Crypto needs to survive and thrive.
Thank you Senator for being willing to come to an agreement. Appreciate your willingness to collaborate. Now let’s get this thing passed!
If you can get this through you guys are restoring faith in the political process for an entire generation of disillusioned Americans.
It was inevitable if you were a bear on this, then you obviously don’t understand where crypto is going, it’s all bullish and it’s not going away. There is no stopping progress.
Senator Cynthia Lummis: We’ve been working all weekend to come up with a compromise to address the digital asset broker issue in the Bipartisan Infrastructure Framework. While it’s not perfect, it protects innovation and doesn’t choose winners and losers. Today, we’re going to push for a unanimous consent agreement on the Senate floor, which we are hoping will be successful. And it looks like crypto guys won.
