![]() Jeff (center of photo) listens to a presentation from Representative Schweikert (R-AZ) ![]() ![]() There, I was able to meet officials and attend sessions with the Congressional Blockchain Caucus. for Congressional Blockchain Education Day. In 2019, for example, I visited Washington, D.C. I’ve experienced this firsthand through my own work with the Chamber of Digital Commerce. It will thrive despite the infrastructure bill, and we’ll still be able to invest in this incredible asset class.īlockchain industry advocates will also continue to push for better regulations and implementation here in the U.S. It is a global phenomenon, and it can’t be stopped. While some of these developments with legislation are disappointing, the fight isn’t over.īlockchain technology and its development, by definition, is decentralized. In fact, I’m more bullish than I’ve ever been before on the blockchain industry and digital assets. #JEFF BROWN THE BLEEDING EDGE SOFTWARE#A software developer who designs a digital asset wallet is not a broker and should not be responsible for collecting and reporting user information.īut while this might sound like it’s the beginning of the end for blockchain… it’s not time to throw in the towel. #JEFF BROWN THE BLEEDING EDGE CODE#It’s a piece of software code running on a blockchain network. They are literally the “infrastructure” that keeps blockchain networks running.Īnd a smart contract isn’t even a person or an entity. People and entities that mine digital assets or run nodes of a blockchain network are not brokers. The bill stated that all crypto “brokers” would have to hand over customer information to the Internal Revenue Service (IRS).Īnd the administration defined “broker” as anyone or anything that “effectuates transfers of digital assets.” This could include crypto miners, validators, smart contracts, software developers, and more. So the question was… how would we pay for it all?Ībout $205 billion comes from unspent COVID relief aid… but lawmakers determined another $28 billion would be “dug up” by increasing tax enforcement for cryptocurrencies. ![]() Senate passed its $1 trillion infrastructure bill, which included spending for public transport, airports, roadways, bridges, water and sewer infrastructure, and power generation – as well as broadband networks and electric vehicles (EVs). ![]()
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