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Cryptocurrency amendment fails

The Senate failed to adopt an amendment that would have narrowed language in the infrastructure bill outlining who has to report cryptocurrency sales to the IRS. A bipartisan group of Senators and the Treasury Department had reached a compromise, but a vote of unanimous consent was tanked by a request to take on an unrelated amendment. Privacy advocates and industry groups say they're now looking for the House to make the language more user-friendly before the final bill passes. Tonya Riley reports.

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$58M privacy settlement for Plaid

Financial technology company Plaid reached a $58 million settlement agreement with consumers who claimed the firm accessed and used their banking information without their consent. Plaid’s service connects customer banking accounts to financial apps like Venmo and Robinhood. The agreement last week, still subject to court approval, also includes requirements on Plaid like minimizing data storage and maintaining public security disclosures. Tim Starks dives in.

Idaho creates cybersecurity board with focus on elections

Idaho Gov. Brad Little announced last week the formation of a cybersecurity task force to improve the defenses of the state government, businesses and residents. The 19-member group — comprised of IT officials, state lawmakers, tech-industry executives, higher-education professionals and federal officials — will meet regularly through the rest of the year with the goal of delivering a set of recommendations to Little in early 2022. The task force will also have a “special focus” on election security, Little’s office said. Along with its election-related work, the Idaho task force will also “explore opportunities to raise awareness, inform and educate potential victims of cybersecurity threats, including citizens, businesses, critical infrastructure operators, and state and local government,” Little’s office said. Benjamin Freed has more at StateScoop.

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