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Bipartisan Lawmakers Ask Treasury To Clarify Definition Of Broker In Infrastructure Bill
Summary: Eleven bipartisan representatives, including Patrick McHenry (RN.C.), Tim Ryan (R-Ohio) and Tom Emmer (R-MN), sent a letter to Treasury Secretary Janet Yellen on Jan. 26, asking for clarification on the definition of "broker" in Infrastructure Bill. The letter said the Treasury Department should have the ability to explain who qualifies as a "broker" in the digital ...
Eleven bipartisan representatives, including Patrick McHenry (RN.C.), Tim Ryan (R-Ohio) and Tom Emmer (R-MN), sent a letter to Treasury Secretary Janet Yellen on Jan. 26, asking for clarification on the definition of "broker" in Infrastructure Bill.
The letter said the Treasury Department should have the ability to explain who qualifies as a "broker" in the digital asset ecosystem. As an alternative, the legislative representatives suggested following a definition to avoid imposing reporting obligations on parties that don't actually have clients, such as crypto mining and staking participators.
The MP also wrote: "We believe consistent information reporting on digital asset transactions is necessary. However, it should not prevent these technologies and the ecosystem from continuing to flourish due to unclear regulations that only create uncertainty."
By Mary Liu
Tags: broker,Crypto Mining,Treasury
Link: Bipartisan Lawmakers Ask Treasury To Clarify Definition Of Broker In Infrastructure Bill [Copy]
