S.Amdt. 2619

SA 2619. Mr. WYDEN (for himself, Ms. Lummis, and Mr. Toomey)
submitted an amendment intended to be proposed to amendment SA 2137
proposed by Mr. Schumer (for Ms. Sinema (for herself, Mr. Portman, Mr.
Manchin, Mr. Cassidy, Mrs. Shaheen, Ms. Collins, Mr. Tester, Ms.
Murkowski, Mr. Warner, and Mr. Romney))

[[Page S5983]]

to the bill H.R. 3684, to authorize funds for Federal-aid highways,
highway safety programs, and transit programs, and for other purposes;
which was ordered to lie on the table; as follows:
On page 2437, strike lines 9 through 18 and insert the
following:

(d) Rule of Construction.--
(1) 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
6045(c)(1)(D) of the Internal Revenue Code of 1986, as added
by this section, includes any person solely engaged in the
business of--
(A) validating distributed ledger transactions,
(B) 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
ledger, or
(C) developing digital assets or their corresponding
protocols for use by other persons, provided that such other
persons are not customers of the person developing such
assets or protocols.
(2) Brokers and treatment of digital assets.--Nothing in
this section or the amendments made by this section shall be
construed to create any inference, for any period prior to
the effective date of such amendments, with respect to--
(A) whether any person is a broker under section 6045(c)(1)
of the Internal Revenue Code of 1986, or
(B) whether any digital asset is property which is a
specified security under section 6045(g)(3)(B) of such Code.
______