Sen. Patrick Toomey (R-PA), co-sponsor of the more popular cryptocurrency amendment to the infrastructure bill (supported by developers, Ted Cruz, and - oddly, Gene Simmons), announced on Monday that a bipartisan group of Senators has reached a compromise, and will request to pass the amendment via unanimous consent.

"I am delighted to announce we have reached a bipartisan agreement that includes Democrats, Republicans, members of the Senate and the Treasury Dept on a issue that had been vexing us for a while," said Toomey, adding "We came together to provide greater clarity on who are the actual brokers of a cryptocurrency.We're not proposing anything sweeping or anything radical."

Toomey added that Sen. Majority Leader Chuck Schumer says he won't block the request, while Schumer said later in the morning that the overall infrastructure bill 'on a path to pass Tuesday morning.'

"There's still time to adopt this amdt before final passage of this (infrastructure) bill and I'll be urging my colleagues to join in this bipartisan effort to fix this error," said Toomey.

Craig Caplan @CraigCaplan · Toomey: "Our solution makes clear that a broker means only those persons who conduct transactions on exchanges where consumers buy, sell and trade digit assets."

Craig Caplan @CraigCaplan

Toomey on revised cryptocurrency amdt: "I think it's fair to say that none of us think this is an absolutely, perfect solution, but it is much better than the underlying text (of the bipartisan infrastructure bill).

Co-sponsor Cynthia M. Lummis (R-WY) said "It's been a long process with a lot of back and forth..The Senate has the opportunity to set the stage for successful implementation of digit assets into our financial system."

More details via Jerry Brito, executive director of DC-based crypto think tank, Coin Center.

Jerry Brito @jerrybrito

It tightens the expanded definition of “broker” sufficiently that it would be difficult to argue it covers protocol devs who only write and publish code.

Jerry Brito @jerrybrito

It then also has exemptions for validators and hardware/software wallet makers.

Oddly, Toomey and Lummis are both saying they'll oppose the overall infrastructure deal 'for unrelated reasons.'

Bitcoin remained strong on the news, much of which was undoubtedly baked in hours ago.