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What The Infrastructure Bill Means For Crypto, And What YOU Can Do About It


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The Senate infrastructure bill has passed……

What this means for crypto remains to be seen, as the measures within the bill relating to crypto are vague and unclear.

Those in government seem to have little understanding of the crypto market, and investors everywhere are decrying this move by the government, asking instead for more clear and lenient regulations.

The final say on the bill won’t come until later this year, but people are already protesting and trying to raise awareness, by contacting representatives in government.

Here’s how you can help:

Details of the vote were found on Coin Telegraph:

In a 69-30 vote, the Senate passed HR 3684 this morning, a bipartisan bill that proposes roughly $1 trillion in funding for roads, bridges and major infrastructure projects. However, the bill also suggests implementing tighter rules on businesses handling cryptocurrencies and expanding reporting requirements for brokers, mandating that digital asset transactions worth more than $10,000 are reported to the IRS.

Though initially split on the best course of action to amend the language in the bill, a group of six senators — Pat Toomey, Cynthia Lummis, Rob Portman, Mark Warner, Kyrsten Sinema and Ron Wyden — proposed a compromise amendment on Monday. The amendment would have exempted software developers, transaction validators and node operators as brokers, while suggesting that tax reporting requirements “only apply to the intermediaries.”

 

Charles Hoskinson calls for protest via Trust Nodes :

“I think it’s about time we get a rally going in Washington DC. I’m going to make some phone calls. More on this later,” says Charles Hoskinson, the now billionaire founder of Cardano which hopes to soon launch smart contracts.

Those smart contract developers are soon to be held responsible for publishing open source code following an astonishing pantomime in the Senate that reveals to this generation democracy is not functioning.

“We could have a crypto President sooner than you think,” Ryan Selkis, a former Silicon Valley VC, says.

In a nod, Jack Dorsey, the founder of Twitter and Square said “Bitcoin will unite a deeply divided country. (and eventually: world).”

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