Last month, the White House and Senator Portman, Republican of Ohio, agreed to a proposal to require cryptocurrency brokers to increase tax compliance to help pay bipartisan infrastructure bills.

The agreement has been strongly criticized by cryptocurrency investors, who believe it will give the Biden administration broad powers to weaken the growing cryptocurrency sector.

Treasury Secretary Yellen spoke with lawmakers on Thursday to oppose the cryptocurrency reform plan proposed by Republican senators, two sources said.

The Biden administration is resisting a bipartisan proposal by senators from both parties in the infrastructure bill that would increase federal regulation of cryptocurrencies.