Cameron Winklevoss recollects how they grew up in the Wild West days of Bitcoin nearly a decade ago and saw first-hand the good, the bad, and sometimes the ugly of a fledgling technology movement trying to find its footing.

Winklevoss pointed to how the promise of Bitcoin and crypto at large is staggering and how it offers the possibility of greater choice, independence, and opportunity for all. But to realize this, we must build and maintain trust in this new asset class day in and day out.

Clarifying, we have engaged with regulatory stakeholders and lawmakers since day one and have always sought permission, not forgiveness.

Building a startup on the frontier of crypto involves comes with uncertainty. Often trying to make sense of and build to regulations and laws authored decades ago, which even pre-date the commercial Internet.

When new laws are introduced, we welcome the opportunity to engage with lawmakers and provide constructive feedback to help ensure suitability and create clarity for companies and innovators on the frontier while satisfying the original intent of said law.

The Infrastructure Bill currently before Congress, which includes a provision related to crypto tax reporting obligations for “brokers.” Gemini can comply with these “broker” obligations as a crypto platform and finds them entirely reasonable.

However, the Infrastructure Bill proposes a definition for “broker” that includes software developers, node operators, miners, and others. These firms cannot practically comply with crypto tax reporting obligations because they don’t have the requisite information to do so.

Imposing crypto tax reporting obligations on software developers, node operators, miners, and others, who cannot comply with them, may very well push them to leave the United States for other jurisdictions. This is obviously bad for America.

Meanwhile, other faces in the market like Michael Saylor: For the year, the return on Bitcoin is 277%, and the return on Gold is -13.6%. Over the last decade, the annual return on Bitcoin is 132%, and the annual return on Gold is 0%.

He pointed to Senator Cynthia Lummis, stating:  Do what you say you’re going to do. Our amendment protects miners as well as hardware and software developers. The other does not. The choice is clear.

Meanwhile, Pomp stated, True innovators, can adapt to any environment. Markets, not politicians, should determine winners and losers.  A society that discourages critical thinking, freedom of speech, and individual rights is sentenced to the same fate of the fallen empires that came before it. Aspire to be a clear thinker. A student of history is rarely fooled by the present.