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Six senators urge Treasury Secretary to clarify definition of broker in infrastructure law before 2022 -Breaking

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Senators from both parties have asked Janet Yellen, Treasury Secretary to clarify language contained in President Joe Biden’s infrastructure bill that addresses crypto tax reporting.

Senators Rob Portman and Mike Crapo, Pat Toomey and Mark Warner wrote a Tuesday letter to Kyrsten Sinema and Cynthia Lummis. It is strongly recommended Yellen to “provide information or informal guidance” on the definition of “broker” in the recently passed infrastructure law, HR 3684. The current text requires that all crypto-related persons, including software developers, miners and transaction validators, must report digital assets transactions exceeding $10,000 to the Internal Revenue Service (or IRS).