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For now, this drama is over: “What are you doing about getting the Amendment to the infrastructure bill passed? Are you phoning your house representative? You have to take action; otherwise, there’s no crypto anymore!”
However, some statements and voices are registered in history. The statements made by crypto leadership will prevail and will serve as powerful statements for reference in the Future.
Denelle Dixon, during peak stressors over the Infrastructure bill, expressed: We support the Wyden-Toomey-Lummis infrastructure deal amendment. Blockchain innovation in the US should be supported with smart legislation and accountability that makes sense.
This debate is not about taxes. At SDF, we agree with industry leaders that brokers such as crypto exchanges should comply with reporting obligations.
But defining, for example, a Stellar network node or validator as a broker doesn’t make sense. Validators don’t have customers, don’t execute trades, and lack reportable information.
This is true for network validators regardless of the manner consensus is achieved. Thus, there is no sound tax reason to treat one or two consensus mechanisms differently from others.
Let’s keep tax policy technology-neutral and foster innovation in a growing industry that gives new opportunities and greater financial inclusion. We urge Congress to pass the Wyden-Toomey-Lummis amendment so blockchain innovators can get back to work building financial rails that serve everyone.
During these infrastructure deal talks, the attention on digital assets has SDF hopeful for a future with more informed policy making! Thanks to Sen RonWyden, SenToomey, SenLummis for pushing sensible language that supports innovation.
One of the community member asked: Would like to know your take on this? Whether you see it really happening and how it would benefit all crypto-involved? The answer was obvious: “SDF hopeful for a future with more informed policymaking!” So, maybe in the Future.
For those who missed the information about demo wallets: Stellar has introduced a new and improved demo wallet that lets app developers to test integrations and see how Stellar ecosystem protocols work. It’s also a great learning tool for anyone curious about what’s involved in a deposit, withdrawal, or sending a payment on Stellar.
Otherwise, the XLM price is set to test critical resistance. As with all cryptocurrencies, the XLM market is currently digesting the major elements of new regulations making it to the market. SEC Chair Gary Gensler’s statements on possible upcoming crypto regulation will have a far reaction, which is currently muted. As a result, we will see changes in the market soon.
