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Senators Near Deal On Crypto Oversight, But May Be Too Late

Aug. 9, 2021, 1:25 AM

The two groups of senators who were battling over how to word a section of the infrastructure bill that would impose new tax rules for cryptocurrencies say they are nearing a compromise, but the deal may come too late to get added to the Senate’s infrastructure bill.

An agreement would resolve a days-long dispute that pitted the White House against Senate Finance Committee Chairman Ron Wyden over the best way to require cryptocurrency entities to report transactions to the IRS.

Wyden, along with Republican Senators Pat Toomey and Cynthia Lummis, had offered one approach that had the support of ...