Political Quotes

“I am pleased to join with my colleagues in urging the Senate to allow this widely supported bipartisan amendment to move forward. I want to thank Ranking Member Toomey, Senator Warner, Senator Portman, Senator Sinema, and Chairman Wyden. Chairman Wyden, in particular, thank you for your early commitment to me to get this right and for your partnership. The amendment before us specifies that persons who validate distributed ledger data, including digital asset miners and stakers, and those who provide hardware and software wallets, are not required to report customer information to the Internal Revenue Service. This is essential because those persons would not have access to the customer information necessary to comply with this requirement anyway. Equally important in this amendment are clarifications to the definition of ``broker'' that will ensure that software protocol developers will not be swept up in IRS reporting requirements. Developers are the lifeblood of innovation and subjecting them to reporting would have far-reaching implications on privacy and on the evolution of technology in this country, not to mention that most developers would not have access to useful data. This bill is very likely going to become law, and it is important that these changes become law along with the bill. That is why I urge my colleagues not to let the perfect be the enemy of the good.…”