The infrastructure bill involving the definition of taxation in the crypto market passed the U.S. Senate with a high vote and is now sent to the House of Representatives

Sens. Pat Toomey (R-Pa.) and Cynthia Lummis (R-Wyo.) introduced an amendment on Monday to clarify the definition of the word "broker" in the infrastructure bill, but it was ultimately blocked by Sen. Richard Shelby (R-Ala.).

Ultimately, the U.S. Senate passed its bipartisan infrastructure bill on Tuesday with a vote of 69 to 30, and it has been submitted to the House of Representatives.

The bill would invest $1 trillion in infrastructure improvements over the next 10 years, including about $550 billion in new spending, and is expected to raise $28 billion from a cryptocurrency tax provision that expands the definition of a "broker," leading the crypto community to worry that the IRS could impose broker-like tax reporting requirements on non-broker entities such as miners.

Many participants in the cryptocurrency industry have initiated initiatives to propose amendments to the provision to precisely define “brokers.” Senators Ron Wyden (D-Ore.), Pat Toomey (R-Pa.), and Cynthia Lummis (R-Wyo.) proposed to clearly define what types of entities are brokers, while a competing amendment from Senators Rob Portman (R-Ohio), Mark Warner (D-Va.), and Kyrsten Sinema (D-Ariz.) proposed a narrower definition that exempts only miners participating in PoS.

Ultimately, the Senate did not consider any amendments and only discussed the base bill during the Sunday night vote.

Toomey, Lummis, Warner, Sinema and Portman agreed on Monday to propose a new amendment, which requires unanimous consent under Senate procedural rules. Sen. Richard Shelby (R-Ala.) objected to the provision, blocking it from being added to the agenda.

The infrastructure bill will now go to the House of Representatives, which is expected to take up the issue this fall. Several members of the House are interested in making reasonable changes to the definition of "broker." But it is unclear how much leeway the House will have to amend the bill.