For quite a while now, crypto advocates in the U.S have constantly expressed their concerns about the $1.2 trillion infrastructure bill that carries a controversial and somewhat questionable definition of what a cryptocurrency broker is. Fight for the Future is the organization that has saddled itself with the responsibility of fighting to ensure that technology remains a force of empowerment. Made up by a group of like-minded advocates, they started a campaign called the #Dontkillcrypto when the cryptocurrency provision was added to the infrastructure bill. The campaign has now purchased a billboard in Alabama which calls out U.S. senator Richard Shelby for obstructing an amendment to the infrastructure bill.
Fight for the Future’s #Dontkillcrypto Campaign
Most likely, a vast majority of Americans are still not aware that U.S. senators have added a controversial and broad definition of cryptocurrency requirements to the $1.2 trillion infrastructure bill. The measures added to beef up tax enforcement surrounding digital currencies received immediate criticism and an amendment crafted by the U.S. senators Cynthia Lummis (R-Wyo.), Rob Portman (R-Oh.), Pat Toomey (R-Pa.), Mark Warner (D-Va.), and Kyrsten Sinema (D-Az.) was filed.
However, although the digital asset reporting requirements were pushed through, the definition did not get amended. Fight for the Future’s #Dontkillcrypto campaign has now recently bought a billboard in Birmingham, Alabama to spread the word. The billboard calls out senator Richard Shelby for blocking the amendment to the infrastructure bill that probably would have fixed the harms of the cryptocurrency reporting provision. Even more, Fight for the Future has made 41,360 calls and sent 1,622 emails to politicians so far and they continue to reach out to the powers that be in the struggle against the added crypto definitions.
According to Fight for the Future’s blog post, the #DontKillCrypto campaign was initiated to oppose a cryptocurrency provision in the must-pass infrastructure package that makes it mandatory to do mass surveillance of the crypto-economy all in the name of reducing tax evasion or avoidance. This will undoubtedly put many crypto participants in a tight corner: to either retrieve information that they are not structurally positioned to or do their business outside the U.S. Either way, it’s an impossible situation, says Fight for the Future.
The Fight is not over
Fight for the Future further has said that the organization’s attention will now turn to the House of Representatives in order to get them to commit to fixing the unrealistic cryptocurrency provision in the infrastructure bill.
Via TechGenyz https://www.techgenyz.com
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