Unconfirmed: How Congress Might Pass Laws Bad for Proof-of-Stake and DeFi - Ep.261

38:09
 
Share
 

Manage episode 299321798 series 1822984
By Laura Shin. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

Kristin Smith, executive director at the Blockchain Association, discusses the latest news on a provision in the infrastructure bill that seeks to raise $28B from the crypto industry in taxes. Show highlights:

  • how the original crypto provision within the infrastructure bill came to be
  • why the expansion of the term “broker” is problematic in the original language of the bill
  • what the Treasury and the White House have to do with this bill and how they, along with Senator Portman, are resisting change
  • how Senators Ron Wyden, Pat Toomey, and Cynthia Lummis are attempting to change the language of the provision through an amendment
  • how the crypto community rallied around Wyden's amendment
  • why Kristin believes a rival amendment put forward by Senators Warner and Portman and supported by the White House late Thursday is worse than the bill’s original language
  • when the Senate will be voting on the amendments
  • how the amendment the White House supports seems harmful to proof-of-stake networks and bad for DeFi
  • whether this is part of a master plan to regulate crypto in the US
  • what Kristin hopes happens during the vote
  • how the crypto community can have its voice heard
  • how to fix the issues within the crypto policy world so this doesn’t happen again

Thank you to our sponsors!

Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2021

Episode Links

Kristin Smith: https://twitter.com/KMSmithDC

Blockchain Association: https://theblockchainassociation.org/

Infrastructure Bill Information

Latest Coverage:

305 episodes