Senator Cynthia Lummis: Most senators not ready to consider cryptocurrency laws

U.S. Sen. Cynthia Lummis (R-Wy.) said Tuesday that most senators are "not ready" to consider legislation about cryptocurrency, as her attempt to amend the definition of a crypto broker in a pending $1T infrastructure bill failed to pass. Speaking to CNBC, Lummis expressed hope that the bill can be updated sometime down the road, either in the House of Representatives or when it comes back to the Senate at a later date. "I think it expressed a fundamental misunderstanding of how digital assets are built," she said of the crypto-related sections in the current bill. A group of senators, including Lummis, attempted to update the infrastructure bill to narrow the definition of a broker. The legislation contains provisions compelling brokers to provide increased information related to taxes. The amendment failed to pass a unanimous consent vote in the Senate, meaning the updated language will not be part of the infrastructure