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Crypto Rules in Senate Bill Eyed for Bipartisan Rewrite

  • Ron Wyden, Pat Toomey team up to offer alternative plan
  • Proposal could override current crypto measure in bill
Patrick Toomey
Patrick ToomeyPhotographer: Al Drago/Bloomberg
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Senators Ron Wyden and Pat Toomey are drafting a proposal to overhaul a cryptocurrency provision in the $550 billion bipartisan infrastructure bill that traders and investors have criticized as being overly broad and impractical.

The bipartisan duo’s more-targeted language would replace what’s in the bill the Senate is now debating -- should their amendment get 60 votes on the Senate floor. It could also cause new problems for the legislation, which was the product of several weeks of intense negotiations between the White House and senators.