,,ii  #aagth ,,congress  #ast ,session  
,s4 #cbdi  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,november #ah1 
#bjba,mr4 ,wyden 7for himself and ,ms4  
,lummis7 introduced the following bill2 
which was read twice and referred to the
 ,committee on ,finance  ,a ,,bill  ,to 
revise the rules of construction        
applicable to information reporting     
requirements imposed on brokers with    
respect to digital assets1 and for other
 purposes4  #a4 ,rules of construction  
applicable to information reporting     
requirements imposed on brokers with    
respect to digital assets  7a7 ,in      
general ,section #hjfjc of the          
,infrastructure ,investment and ,jobs   
,act is amended by striking subsection  
7d7 and inserting the following3  7d7   
,rule of construction  7#a7 ,definition 
of broker ,nothing in this section or   
the amendments made by this section     
shall be construed to create any        
inference that a person described in    
section #fjde7;c77#a77;,d7 of the       

,internal ,revenue ,code of #aihf1 as   
added by this section1 includes any     
person solely engaged in the business   
of-- 7,a7 validating distributed ledger 
transactions1  7,b7 selling hardware or 
software for which the sole function is 
to permit a person to control private   
keys which are used for accessing       
digital assets on a distributed ledger1 
or  7,c7 developing digital assets or   
their corresponding protocols for use by
 other persons1 provided that such other
 persons are not customers of the person
 developing such assets or protocols4   
7#b7 ,brokers and treatment of digital  
assets ,nothing in this section or the  
amendments made by this section shall be
 construed to create any inference1 for 
any period prior to the effective date  
of such amendments1 with respect to--   
7,a7 whether any person is a broker     
under section #fjde7;c77#a7 of the      
,internal ,revenue ,code of #aihf1 or   
7,b7 whether any digital asset is       
property which is a specified security  

under section #fjde7;g77#c77;,b7 of such
 ,code4  7e7 ,sense of ,congress ,it is 
the sense of ,congress that nothing in  
the amendments made by this section     
shall be construed to have any effect on
 the ,securities ,act of #aicc 7#ae     
,u4,s4,c4 #gg;a et seq47 or the         
,securities ,exchange ,act of #aicd 7#ae
 ,u4,s4,c4 #gh;a et seq474  4  7b7      
,effective date ,the amendments made by 
this section shall take effect as if    
included in the enactment of section    
#hjfjc of the ,infrastructure           
,investment and ,jobs ,act4