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Toomey Says Consensus Reached On Crypto Amendment As Schumer Eyes Tuesday Infrastructure Passage

Courtesy of ZeroHedge View original post here.

Sen. Patrick Toomey (R-PA), co-sponsor of the more popular cryptocurrency amendment to the infrastructure bill (supported by developers, Ted Cruz, and – oddly, Gene Simmons), announced on Monday that a bipartisan group of Senators has reached a compromise, and will request to pass the amendment via unanimous consent.

"I am delighted to announce we have reached a bipartisan agreement that includes Democrats, Republicans, members of the Senate and the Treasury Dept on an issue that had been vexing us for a while," said Toomey, adding "We came together to provide greater clarity on who are the actual brokers of a cryptocurrency. We're not proposing anything sweeping or anything radical."

Toomey added that Sen. Majority Leader Chuck Schumer says he won't block the request, while Schumer said later in the morning that the overall infrastructure bill is 'on a path to pass Tuesday morning.'

"There's still time to adopt this and before final passage of this (infrastructure) bill and I'll be urging my colleagues to join in this bipartisan effort to fix this error," said Toomey.

Co-sponsor Cynthia M. Lummis (R-WY) said "It's been a long process with a lot of back and forth..The Senate has the opportunity to set the stage for successful implementation of digit assets into our financial system."

More details via Jerry Brito, executive director of DC-based crypto think tank, Coin Center.

Bitcoin remained strong on the news, much of which was undoubtedly baked in hours ago.


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