Jared Tate expressed:  The 2700 page Infrastructure Bill contains insane spending, Orwellian mandates (face scanner in cars) & industry killing taxes. We only have 30 hours (1 min per pg) to see what other tyranny is hidden in this bill. This isn’t democracy, it’s serfdom. It will destroy US economy.

Also stated, The Senate can still pass this compromise crypto amendment in about 5 minutes with unanimous consent. If this happens it is definitely bullish.

Jery Brito expressed:  There is now a compromise amendment being offered by Senators Toomey, Lummis, Warner, Portman, and Sinema that we think all senators should support.

It tightens the expanded definition of “broker” sufficiently that it would be difficult to argue it covers protocol devs who only write and publish code.

It then also has exemptions for validators and hardware/software wallet makers.

Call your senators and tell them to support the Toomey-Lummis-Warner compromise crypto amendment: 517-200-9518

That all said, there is a lot of work left to be done. While this is better than the base text, the provision still has other issues besides the “broker” definition. And we’ll still have to see how Treasury issues regs.

Thank you Sen Toomey, Sen Lummis, Ron Wyden for your incredible work to get to this point.

Toomey, Lummis and Wyden are phenomenal ambassadors for crypto in the Senate.

Cribbing continues:  Why are we allowing this to be hastily shoe horned into a completely irrelevant bill in the first place? Janet Yellen shouldn’t have such influence on crypto legislation?

This is still atrocious. It should be altogether removed from the infra bill. I urge you to please support the compromise amendment from Toomey, Lummis, Warner, Portman, and Sinema.

Someone said:  The recorded script that is recommended by that phone # says to say NO to the Portman Warner Sinema amendment and YES to Wyden Toomey Lummis.

The language in the original plan would seriously hurt innovation in the United States for the future. It’s strictly a language issue at the moment.  Amazing work by a great team! Crypto needs a much stronger voice in US politics, this has to only be the beginning.  The fight won’t end with this bill.

We wouldn’t agree on much else, but the only people who need to be treated with the same scrutiny as money transmitters are those moving assets.

What the Senate said tonight: Let’s tax the hell out of something we know nothing about, so we can pass a giant bill we haven’t read, and spend the American people’s money on stuff we can’t afford.