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: <ul> <li style="font-weight: 400;" aria-level="1">how the original crypto provision within the infrastructure bill came to be</li> <li style="font-weight: 400;" aria-level="1">why the expansion of the term “broker” is problematic in the original language of the bill</li> <li style="font-weight: 400;" aria-level="1">what the Treasury and the White House have to do with this bill and how they, along with Senator Portman, are resisting change</li> <li style="font-weight: 400;" aria-level="1">how Senators Ron Wyden, Pat Toomey, and Cynthia Lummis are attempting to change the language of the provision through an amendment</li> <li style="font-weight: 400;" aria-level="1">how the crypto community rallied around Wyden's amendment </li> <li style="font-weight: 400;" aria-level="1">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 </li> <li style="font-weight: 400;" aria-level="1">when the Senate will be voting on the amendments</li> <li style="font-weight: 400;" aria-level="1">how the amendment the White House supports seems harmful to proof-of-stake networks and bad for DeFi</li> <li style="font-weight: 400;" aria-level="1">whether this is part of a master plan to regulate crypto in the US</li> <li style="font-weight: 400;" aria-level="1">what Kristin hopes happens during the vote</li> <li style="font-weight: 400;" aria-level="1">how the crypto community can have its voice heard</li> <li style="font-weight: 400;" aria-level="1">how to fix the issues within the crypto policy world so this doesn’t happen again</li> </ul>   Thank you to our sponsors! Crypto.com: <a href= "https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2021"> https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2021</a>    Episode Links Kristin Smith: <a href= "https://twitter.com/KMSmithDC">https://twitter.com/KMSmithDC</a> Blockchain Association: <a href="https://theblockchainassociation.org/">https://theblockchainassociation.org/</a>   Infrastructure Bill Information Latest Coverage: <ul> <li style="font-weight: 400;" aria-level="1"><a href= "https://decrypt.co/77838/rival-amendment-senate-infrastructure-bill-threatens-proof-stake"> https://decrypt.co/77838/rival-amendment-senate-infrastructure-bill-threatens-proof-stake</a></li> </ul> <ul> <li style="font-weight: 400;" aria-level="1"><a href= "https://decrypt.co/77859/crypto-industry-mobilizes-to-stop-controversial-tax-plan"> https://decrypt.co/77859/crypto-industry-mobilizes-to-stop-controversial-tax-plan</a></li> <li style="font-weight: 400;" aria-level="1"><a href= "https://decrypt.co/77841/biden-crypto-infrastructure-bill-amendments"> https://decrypt.co/77841/biden-crypto-infrastructure-bill-amendments</a></li> <li style="font-weight: 400;" aria-level="1"><a href= "https://www.eff.org/deeplinks/2021/08/16-civil-society-organizations-call-congress-fix-cryptocurrency-provision"> https://www.eff.org/deeplinks/2021/08/16-civil-society-organizations-call-congress-fix-cryptocurrency-provision</a> </li> <li style="font-weight: 400;" aria-level="1"><a href= "https://decrypt.co/77681/senators-move-exempt-bitcoin-miners-tax-provision-infrastructure-bill"> https://decrypt.co/77681/senators-move-exempt-bitcoin-miners-tax-provision-infrastructure-bill</a></li> <li style="font-weight: 400;" aria-level="1"><a href= "https://www.forbes.com/sites/jonathanponciano/2021/08/04/senators-propose-change-to-new-crypto-rules-for-tax-reporting-heres-whos-affected/?ss=crypto-blockchain&sh=400443e64c91&utm_source=TWITTER&utm_medium=social&utm_content=5271009989&utm_campaign=sprinklrForbesCrypto"> https://www.forbes.com/sites/jonathanponciano/2021/08/04/senators-propose-change-to-new-crypto-rules-for-tax-reporting-heres-whos-affected/</a></li> <li style="font-weight: 400;" aria-level="1"><a href= "https://twitter.com/BlockchainAssn/status/1422976741715361792"> https://twitter.com/BlockchainAssn/status/1422976741715361792</a></li> <li style="font-weight: 400;" aria-level="1"><a href= "https://twitter.com/jerrybrito/status/1422002228102107142"> https://twitter.com/jerrybrito/status/1422002228102107142</a></li> <li style="font-weight: 400;" aria-level="1"><a href= "https://www.theblockcrypto.com/linked/113196/wyden-crypto-language-in-infrastructure-bill-fails-to-understand-how-the-technology-works"> https://www.theblockcrypto.com/linked/113196/wyden-crypto-language-in-infrastructure-bill-fails-to-understand-how-the-technology-works</a></li> <li style="font-weight: 400;" aria-level="1"><a href= "https://www.coindesk.com/new-infrastructure-bill-looks-to-raise-30b-through-crypto-taxes"> https://www.coindesk.com/new-infrastructure-bill-looks-to-raise-30b-through-crypto-taxes</a></li> <li style="font-weight: 400;" aria-level="1"><a href= "https://twitter.com/jchervinsky/status/1421150344051048451"> https://twitter.com/jchervinsky/status/1421150344051048451</a></li> <li style="font-weight: 400;" aria-level="1"><a href= "https://twitter.com/NeerajKA/status/1421242689148932105"> https://twitter.com/NeerajKA/status/1421242689148932105</a></li> <li style="font-weight: 400;" aria-level="1"><a href= "https://www.cnn.com/2021/08/01/politics/bipartisan-infrastructure-bill-collins-manchin-senate-cnntv/index.html"> https://www.cnn.com/2021/08/01/politics/bipartisan-infrastructure-bill-collins-manchin-senate-cnntv/index.html</a></li> <li style="font-weight: 400;" aria-level="1"><a href= "https://www.coindesk.com/gop-lawmaker-janet-yellens-treasury-likely-behind-surprise-crypto-bill"> https://www.coindesk.com/gop-lawmaker-janet-yellens-treasury-likely-behind-surprise-crypto-bill</a> </li> </ul>

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

Unchained