Democrat urges changes for ‘problematic’ crypto language in infrastructure bill

Rep. Anna Eshoo (D-Calif.) is joining the growing chorus calling for an amendment to language in the $1 trillion bipartisan infrastructure bill imposing new regulations on the cryptocurrency industry.

Eshoo sent a letter to Speaker Nancy Pelosi (D-Calif.) Thursday urging her to amend “the problematic broker definition” in the Senate-passed bill that now faces the lower chamber.

“I share the goals of the underlying provision to address tax evasion in the cryptocurrency market, but the House should amend it, as the bipartisan compromise amendment would have, to meet this goal without stifling innovation in a nascent industry by imposing unworkable regulations,” Eshoo wrote. “I stand ready to work with you to ensure the infrastructure legislation addresses tax evasion to pay for its investments without unduly threatening a growing sector of our economy.”

According to a leadership aide, the final language in the infrastructure bill will be reviewed.