WASHINGTON, (Reuters) – A bipartisan group comprising U.S. legislators has requested clarity from the Treasury Department regarding the “digital asset ecosystem”. This is after the inclusion of new reporting requirements in the $1 trillion infrastructure bill last year. Punchbowl News reported on Thursday.

A Wednesday letter from the group to Treasury Secretary Janet Yellen stated that part the bill was “ambiguous” as Treasury could determine who is a “broker” within the digital assets ecosystem beyond what Congress meant. The group also urged Treasury Secretary Janet Yellen against an “expansive” reading of the “broker” definition.

“As nascent technology advances, we need to ensure that requirements imposed on digital asset ecosystems are both crafted, and implemented, in order for the United States to remain at the forefront, financial innovation,” said the legislators including Reps Patrick McHenry (a Republican) and Tim Ryan (a Democrat).

Reuters couldn’t confirm this report immediately. This comes at a time when the Biden administration will likely unveil preliminary guidance about cryptocurrencies and digital assets in the coming days according to Punchbowl.

Bloomberg News reports that last week, the Administration was in preparation to announce its initial digital assets strategy for governmentwide use as quickly as February.

Wally Adeyemo (Deputy Treasury Secretary of the United States) told CNBC Monday that crypto regulations were in development.

The private management of digital assets is the responsibility of individuals. Bank officials have asked U.S. regulators about clarifying what type and how it would be regulated, as well as crypto.

The rapid rise of cryptocurrency has been a concern for U.S. regulators. They fear it may put financial systems at risk. Chief executives of cryptocurrency firms have advocated against strict regulations.

In November, U.S. President Joe Biden’s administration reversed a Trump-era policy that gave banks permission to provide crypto custody services, with the Office of the Comptroller of the Currency telling banks they need written permission from bank supervisors before engaging in cryptocurrency-related activities, including custody services.