- Fight for the Future has utilised bitcoin donations to put up a billboard in Birmingham
- Shelby has been one of two senators from Alabama, and he objected to the introduction of a crypto amendment.
- Several senators collaborated on a proposal to remove software developers.
Fight for the Future, a digital rights advocacy group, has publicly criticized Alabama lawmaker Richard Shelby for blocking an amendment defining the position of cryptocurrency in the next infrastructure bill in the US Senate.
Fight for the Future has utilised bitcoin donations to put up a billboard in Birmingham, Alabama, urging lawmakers not to support legislation that will harm crypto and blockchain companies.
#dontkillcrypto is trending after the US senate announced the infrastructure bill.
Since 1987, Shelby has been one of two senators from Alabama, and he objected to the introduction of a crypto amendment to the Senate’s infrastructure bill, HR 3684.
Although the protest is peaceful but bill boards in US spreading the news like bushfire.
As it stands currently, the infrastructure bill proposes stronger regulations for enterprises dealing in cryptocurrencies and expanded reporting requirements for brokers, including a requirement that digital asset transactions worth more than $10,000 be disclosed to the IRS.
Several senators collaborated on a proposal to remove software developers, transaction validators, and node operators from the definition of brokers, claiming that tax reporting rules “only apply to the intermediaries.”
Shelby’s amendment, which would have added $50 billion in defence spending to the roughly $1 trillion in funding for roads, bridges, and key infrastructure projects, was not allowed to be included to the package by Senate members.
Later, the Alabama senator stated that he backed the crypto amendment but that defence spending came first.
ABOUT INFRASTRUCTURE BILL
The infrastructure bill now heads to the House of Representatives, where MPs passed a nonbinding resolution calling for a vote on the plan by September 27.
Several House members have already stated that they support amending the bill’s crypto provisions, but Fight for the Future reports that Representative Brad Sherman is one of the few voices opposed to such an amendment — the lawmaker has previously called for a complete ban on cryptocurrencies in the US.
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