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It just looks like Stellar Lumens heads are very polished and formal in their response to the forthcoming amendment to the infrastructure bill.
Blockchain Association who stated, “We are proud to stand with more than 100 #crypto ecosystem stakeholders in support of the @RonWyden-@SenLummis-@SenToomey Amendment in the infrastructure bill. Save privacy. Save innovation. Save crypto.”
In response, Denelle Dixon expressed: SDF hopes to see the Wyden-Lummis-Toomey amendment adopted. This has big implications for the future of the blockchain industry and innovation in our space.
Previously Denelle stated: “Rules and regulations must be clear, and targeted groups must be able to comply with them.” Also stated, “As we’ve said before, new technology deserves new approaches to regulation. That’s why we’re working with industry partners and experts to help clarify language in the proposed Infrastructure Bill which would impact our industry.”
Bloomberg Government expressed: Senators Ron Wyden and Pat Toomey are drafting a proposal to overhaul a cryptocurrency provision in the $550 billion bipartisan infrastructure bill.
Jordon E, CMO of Stellar Development Foundation expressed: Thank you Sen RonWyden and SenToomey for working on more targeted language around crypto reporting in the Bipartisan Infrastructure Deal. We see and appreciate your leadership.
Previously, Blockchain Association summarized thus: Here’s what’s happening with the proposed infrastructure bill tax provision and how it targets America’s crypto industry with unworkable reporting requirements.
Smaller innovators lack the ability to meet these new reporting requirements, and many would be forced to relocate overseas.
Cryptocurrency hopes to empower consumers and free them from financial intermediaries, but labeling them as “brokers” impedes this goal. America has prospered from our commitment to innovation, but this threatens to cede our crypto leadership to international competitors.
Blockchain Association and the crypto industry are eager to work with policymakers to craft regulatory guardrails that work for everyone. We hope that our inclusion into this conversation will foster a greater understanding of the industry & develop meaningful policy outcomes.
Together, we can provide solutions that work for everyone – from the crypto ecosystem and innovators to regulators, consumers, and the American public – to keep America at the forefront of this promising innovation.
Concluded stating, “Instead of rushing through an untested provision with vast unintended consequences, we encourage Congress to work with our industry to find language that works for all stakeholders, keeping America at the forefront of crypto innovation.”
