Cryptocurrency regulation has become a major concern for governments all around the world. While several nations have expressed support for cryptocurrencies, the US Senate’s recent proposal of the Infrastructure Bill has sparked heated controversy.
Elon Musk responds to a tweet from Brian Amstrong.
When it comes to Bill’s inception and passage, Coinbase’s CEO has been outspoken. Many individuals have speculated that the law will spell the end for cryptocurrencies. Following that, Mark Warner and Rob Portman submitted an amendment. In addition, a new amendment has been spearheaded by the two.
Brian had lately attacked both the change and the Bill as a whole. He has asked everyone who reads his Tweet to vote against the amendment and the Bill as a whole. Although the change aims to soften the tax rules, it does so in a negative way. As a result, Elon Musk has spoken out in Brian’s favor.
Cryptocurrencies will be phased out as a result of the measure.
As many crypto enthusiasts say, the Bill spells the end for cryptocurrency. Elon Musk responded to Brian’s Tweet in the discussion, agreeing with him. However, he went on to say that hasty judgments do not result in optimistic laws.
Elon Musk went on to say that the government’s haste is unwarranted and that there is no need to pick and select the winners in the cryptocurrency sector.