US Senator seeks to repeal the definition of crypto broker in Biden's Infrastructure Act - Aliens: AI Crypto News & Markets Updates

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US Senator seeks to repeal the definition of crypto broker in Biden's Infrastructure Act

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Aliens

Wed, Nov 17, 2021

According to news from The Block on November 16, US Senator Ted Cruz of Texas is seeking to divest the language that defines a crypto "broker" from the multi-billion dollar infrastructure bill that Biden has just signed into law. It is worth noting that some other senators who participated in the boycott have proposed their legislation to modify some of the rules. In contrast, Cruz tried again to cut regulations completely. Cruz said in a statement: "As a deliberative body, the Senate should have done its job and held hearings to properly understand the consequences of legislating on this emerging industry before we risked the livelihoods and privacy of participating Americans," Cruz said in a statement. "I urge my colleagues in the Senate to repeal this harmful language that will create regulatory uncertainty and in turn an unnecessary barrier to innovation."

Source: The Blockcrypto

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