Everything that politics touches, it destroys.
It’s no secret that cryptocurrencies are quickly becoming a political issue, and the evidence is all around us. Just recently Hillary Clinton has come out to claim that crypto can destroy whole nations.
On the other side of that debate is Rand Paul saying that they are potentially the future of money, and the global reserve currency.
I am not here to argue who is correct, but simply here to point out who is saying what.
I also want to take the time to point out that these establishment types seem to really hate cryptocurrencies and digital assets, so take that as you will.
There is some hope though, as there was recently a bipartisan bill introduced by Rep. Patrick McHenry to fix everything wrong with the crypto provisions in the recent infrastructure bill.
Only time will tell whether this becomes a Democrat vs Republican issue, but until that time, take a look through these latest reports concerning cryptocurrencies and the tenuous political situation:
GM! Some good news: A comprehensive bipartisan bill has just been introduced in the House to fix EVERYTHING wrong with the infrastructure bill's crypto tax provision–including the unconstitutional §6050I individual reporting mandate. https://t.co/rK3sbIKBu9
— Jerry Brito (@jerrybrito) November 18, 2021
It's a tragedy Crypto is becoming partisan issue in D.C. The Biden admin is adopting hostile posture towards Crypto while Republicans are advocating for pro-crypto policies. This will affect my vote next election, but it really shouldn't be like this. Crypto should be bipartisan!
— Yassin Mobarak (@Dizer_YM) November 18, 2021
Coin Telegraph asks:
Former President Bill Clinton spoke at Ripple’s Swell conference in 2018, saying that the “permutations and possibilities” of blockchain were “staggeringly great,” but he had been out of office for roughly 17 years when he made those statements.
When a more current Democratic figure like Hillary Clinton speaks out against crypto, could it affect how the issue is handled by lawmakers in office now?
— Vince Quill (@VinceQuill) November 19, 2021
A bipartisan team of U.S. senators is introducing a bill to narrow some cryptocurrency tax reporting rules that were laid out in the infrastructure legislation that’s set to become law on Monday. https://t.co/DzOQLvwmby
— Josh Caplan (@joshdcaplan) November 15, 2021
CNBC gave us some hope that perhaps this will not turn into a partisan nightmare:
The same groups cheered the new bipartisan bill in statements on Thursday accompanying the bill’s release.
“We applaud Congressman McHenry’s bipartisan efforts to clarify the overly-broad and unclear language targeting crypto in the infrastructure bill,” Blockchain Association CEO Kristin Smith said in a statement.
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