US President Biden signed the construction bill and a declaration on crypto brokerage was enshrined in law.

Senator Cynthia Lummis and other lawmakers are currently trying to pass a separate bill to narrow the scope of the crypto brokerage law.

US President Biden enacted a trillion-dollar bipartisan infrastructure bill on Monday, passing legislation that includes inconsistencies in tax requirements.

The crypto industry is concerned about the tax reporting requirements of crypto brokers, which are included in the bill to expand the IRS definition of a broker. The measure would require all employees to disclose their business activities in accordance with applicable law.

Industry experts fear the definition has grown too broad to include organizations such as miners and other stakeholders who have failed to help the industry.

Senator Cynthia Lummis (R-Wyo) and others are trying to reduce the capitalization of the recent bill that includes crypto brokers by skipping another bill on Monday.

Another cryptocurrency industry attack forces recipients over $ 1,000 to verify sender's personal information, register social security numbers, exchange status, and more, any information. and to announce the changes to the government within 15 days.

Some lawyers have pointed out that in the case of cryptocurrencies and other assets such as non-fungible tokens (NFTs), this is almost never legal.