The Breakdown Bitcoin Rallies Defiantly as Senate Infrastructure Battle Hits a Snag
Contention over the crypto provision in the infrastructure bill continues. Today on “The Breakdown,” NLW brings the latest, including:
- Consensus mechanism confusion
- A weekend stalemate
- The emergent power of the crypto industry
The amendment proposed by Sen. Rob Portman included an odd preference for proof-of-work over any other consensus mechanism. After significant pushback from the crypto community on this specific detail, the amendment was changed to cover all consensus mechanisms. But in a head-scratching turn of events, the amendment was updated once more to include proof-of-work and proof-of-stake, but no other mechanisms.
Sunday came with its own set of blockers, including a conflict around prioritization of the crypto provision versus other legislation that needs attention. Though the weekend brought little resolution, the debate continues and there is still time for a positive resolution. Will policymakers come to an agreement on one of the proposed amendments in time?
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