Ted Cruz, Texas Senator, is trying to remove the clause that defines who is a crypto broker from the multi-billion dollar infrastructure bill.
According to a statement from Cruz’s office, if the proposed legislation is passed, the language to increase reporting requirements for “brokers” in the digital asset space will disappear.
Crypto industry advocates have long struggled to replace or remove this language in the infrastructure bill. The bill was signed into law by US President Joe Biden yesterday.
Some senators have proposed their own laws that would revise these rules.
Cruz used the following statements on the subject: