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Infrastructure Bill's Crypto Crackdown May Yet Be Tamed, Law360

August 12, 2021

Morgan Lewis partner Sarah-Jane Morin was interviewed by Law360 about the US Senate’s $1.2 trillion infrastructure bill that included a “controversial measure” that could have major implications for the cryptocurrency industry through reporting requirements for brokers in the digital asset space. Sarah-Jane pointed out, however, that “there are still opportunities to win changes, and the industry has vowed to pursue them — and at least some of the hoped-for clarifications don't seem outside the realm of possibility.” Specifically addressing the current broad definition of “broker,” she said, “I do think the odds are it will become clearer — assuming this language is passed into law as is — that 'broker' is not meant to capture absolutely everyone involved with a vast range of different types of digital asset transactions.”

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