The United States Senate has voted  in favor  of the Warner-Sinema-Portman amendment to President Biden’s infrastructure bill in a landslide of 68-2

U.S. Senate Vote in Favor of Amendment That Threatens Crypto Industry

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2021-08-09 13:00:09

The United States Senate has voted in favor of the Warner-Sinema-Portman amendment to President Biden’s infrastructure bill in a landslide of 68-29 late on Sunday evening. 

The Warner-Sinema-Portman amendment has been widely criticized by the crypto community for imposing tax reporting requirements on non-custodial actors like miners and software developers who don’t record customer information.

Senator Cynthia Lummis (R-WY), one of the co-authors of the rival Wyden-Toomey-Luumis amendment, which exempts those hefty tax requirements, tweeted her disappointment. “I understand my colleagues' positions. But real people are going to be hurt if we do not change the language in this bill,” she said. 

The Senate allows for 30 hours of debate following a vote. This means that the Warner-Sinema-Portman amendment can be debated up until Tuesday morning, after which it would be signed into law. 

The Senate can still vote to change the infrastructure bill. Lummis and company remain committed to reaching an amendment that they believe will benefit the crypto industry. 

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