Kristin Smith, executive director at the Blockchain Association, discusses the latest news on a provision in the infrastructure bill that seeks to raise $28B from the crypto industry in taxes. Show highlights:
- how the original crypto provision within the infrastructure bill came to be
- why the expansion of the term “broker” is problematic in the original language of the bill
- what the Treasury and the White House have to do with this bill and how they, along with Senator Portman, are resisting change
- how Senators Ron Wyden, Pat Toomey, and Cynthia Lummis are attempting to change the language of the provision through an amendment
- how the crypto community rallied around Wyden's amendment
- why Kristin believes a rival amendment put forward by Senators Warner and Portman and supported by the White House late Thursday is worse than the bill’s original language
- when the Senate will be voting on the amendments
- how the amendment the White House supports seems harmful to proof-of-stake networks and bad for DeFi
- whether this is part of a master plan to regulate crypto in the US
- what Kristin hopes happens during the vote
- how the crypto community can have its voice heard
- how to fix the issues within the crypto policy world so this doesn’t happen again
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Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2021
Episode Links
Kristin Smith: https://twitter.com/KMSmithDC
Blockchain Association: https://theblockchainassociation.org/
Infrastructure Bill Information
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