The Cardano founder, Charles Hoskinson, will be speaking live from warm sunny Washington DC to enlighten legislators and officials on the impact of the Infrastructure Bill on the blockchain industry.
Previously, Hoskinson said the Infrastructure Bill would be terrible for crypto. He urged the community, regardless of their tribalistic tendencies, to unite and take affirmative action in voicing concerns to their political representatives.
On September 28, Hoskinson will have the opportunity to do that himself at the Blockchain & Hybrid Event, a two-day seminar hosted by the Government Blockchain Association (GBA).
What’s the deal with the Infrastructure Bill?
Last month, in a rare show of unity between parties, the U.S Senate passed the Infrastructure Bill. Commentators said it would bring much-needed money to upgrade America’s crumbling transport infrastructure.
However, rather unscrupulously, the Bill also contained a provision related to crypto reporting requirements. Specifically, a condition for crypto “brokers” to report transactions to the Inland Revenue Service.
Critics argued that the term “brokers” was too broad and moved to include a last-minute amendment to define the term better. Unfortunately, the amendment was blocked, dealing a huge blow to the U.S cryptocurrency industry.
As it stands, under the current proposal, “brokers” would include...
This article was first published on www.cryptoslate.com.
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Written by Samuel Wan.