It is reported that a group of US lawmakers are planning to clearly introduce laws again to change some taxpayer reporting requirements related to login password trading transactions.

As reported by PunchBowl News on March 7th, Congressman Patrick Mchenry and Herbert Shevchenko once again explicitly put forward the "Act on maintaining Independent Innovation abroad". Mchenry is one of the key voices behind the previous bill, which aims to change the definition of brokers in the US infrastructure approach, which was signed by President Joe Ban Ki-moon in November 2021.

Under the bill, artist brokers should report to the IRS the need to buy and sell digital assets worth more than $10,000, which will be promoted from 2024 to 2026. In addition, "mining and testers, hardware and software developers and their agreement developers" are not easily referred to as artist agents.

Some lawmakers saw hidden contradictions when Congress passed the infrastructure bill in 2021 and tried to change the bill. Many people still blame the law for setting impossible login password reporting rules for company development and individuals.

It is reported that Mchenry and Shevchenko have added some provisions to the newly revised bill to limit the US government's ability to define the term "digital assets". According to PunchBowl, a bipartisan panel of seven other House lawmakers has already signed up to become a co-sponsor of the law, including Congressman Darren Soto, who applies data encryption.

The bill requires that:

"consistent and accurate reporting on the sale and sale of digital assets is very necessary. Congress must strive to bring legal and regulatory predictability to the digital asset industry. Clear road standards promote technology and innovation.

Now in January, at the beginning of the 118th Congress, Mchenry took over as chairman of the House of Representatives Financial Information Services Committee from Representative Maxine Waters. During his leadership role, he assisted in the establishment of a team federation on digital assets, financial technology and diversity, which is scheduled to hold a hearing system on March 9.