Bitcoin Fans Are Suddenly a Political Force – WSJ

Crypto lobbyists say they may yet prevail when the House takes up the infrastructure legislation next month, or when the Internal Revenue Service implements the new rules afterward. Several lawmakers also have discussed stand-alone legislation that defines cryptocurrency brokers more narrowly than the provision in the infrastructure bill.

As Securities and Exchange Commission Chairman Gary Gensler made clear when he recently compared cryptocurrency to the Wild West, more U.S. regulation looms. But those pushing for a government crackdown on crypto now know their opponents are able to mobilize in a way they hadn t in earlier years.

The infrastructure fight shows that crypto now has a voice in D.C., said Andrew Park, a senior policy analyst at Americans for Financial Reform, which advocates for tighter regulations and more tax liability in cryptocurrency. It s still very nascent. They don t have the relationships that more established industries have. But they made their voice heard.

via www.wsj.com

Good.