After a week filled with controversy on the much debated Infrastructure Bill per the provisions of cryptocurrencies, Senator Pat Toomey has announced that a bipartisan compromise has been reached ahead of the Tuesday session in which Congress is billed to vote on all amendments and the bill as a whole. Speaking at a Press Conference, the Senator confirmed that the compromise now features a clause in which the new amendment would exempt software developers, transaction validators, and node operators, in the tax reporting requirements.
The compromise which is supported by all the factions with opposing proposals including Senators Cynthia Lummis, Rob Portman, Mark Warner, Kyrsten Sinema, Ron Wyden and Pat Toomey now maintains that the crypto reporting requirement “should only apply to the intermediaries.”
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