Given that Senator Rob Portman has previously referred to the section on brokers in the proposed bill as a “common-sense provision,” his position on the crypto amendment is a bit surprising.
Several Republican senators, including Senator Rob Portman of Ohio, who is a leading voice in negotiations over an infrastructure bill in the U.S. Senate, have stated that they support an amendment clarifying the intent of a cryptocurrency provision.
The senator from Ohio, Ron Wyden, Cynthia Lummis, and Pat Toomey, encouraged his colleagues in the Senate to vote on an amendment proposed this week by Ron Wyden, Cynthia Lummis, and Pat Toomey, which proposes changing the definition of brokers in the infrastructure bill so that developers, miners, and blockchain firms in the cryptocurrency space are no longer included.
I agree with Senators Wyden, Toomey, Lummis that we can do more to clarify the intent of the cryptocurrency provision & the Senate should vote on their amendment.
— Rob Portman (@senrobportman) August 5, 2021Several Republican senators, including Senator Rob Portman of Ohio, who is a leading voice in negotiations over an infrastructure bill in the U.S. Senate, have stated that they support an amendment clarifying the intent of a cryptocurrency provision.
The senator from Ohio, Ron Wyden, Cynthia Lummis, and Pat Toomey, encouraged his colleagues in the Senate to vote on an amendment proposed this week by Ron Wyden, Cynthia Lummis, and Pat Toomey, which proposes changing the definition of brokers in the infrastructure bill so that developers, miners, and blockchain firms in the cryptocurrency space are no longer included.
Jeff Bandman, a board member of Global Digital Finance, said:
“Assuming the amendment is approved, it would serve to raise revenues from appropriate actors, promote regulatory certainty and allow innovators to continue to develop new financial products, many of which could enhance financial inclusion in the U.S., without fear of unwarranted tax liabilities.”
In order for the amendment to be included in the legislation, it would need 60 votes. Portman’s support for the amendment may increase the likelihood that it will be passed by the Senate, which is evenly divided between the two parties at the moment.
